As one bank reaffirms its position in the leasing industry (Lloyds TSB with Lex Autolease), so another begins a review of its business.
The Royal Bank of Scotland is considering whether to pull out of contract hire/leasing via its Lombard Vehicle Management division. As the third largest leasing provider, its withdrawal will have implications for thousands of fleets. Who picks up the pieces?
Most of Lombard’s nearest rivals are bank-owned – few appear to have the stomach for a large acquisition.Outwardly, at least, they are making the kind of noises that suggest 2009 is a year for consolidation. Certainly the manufacturer-owned funders won’t give it a second glance.
If RBS does find a buyer for Lombard, then it won’t be the only change in the leasing sector this year. Rumours are circulating that a top 20 provider is teetering on the brink.
It all raises concerns for fleets that are heavily reliant on one supplier. Many are already looking to spread their risk among four or five vehicle manufacturers; perhaps they might take a similar approach to their leasing relationships.
Cost is king at Greener CCIA
The overriding theme at last week’s Greener Company Car In Action was cost: fleet operators are being swamped with demands at board level to find a way to cut overheads.
Pressure on their time is rising, which made it all the more gratifying that just over 1,000 fleet influencers attended the driving event.
Most of the people I spoke to were looking for cars with lower carbon emissions – one had recently implemented a sub 120g/km policy – and the two hybrid cars, Honda Insight and Toyota Prius, were in great demand over the three days. Not sure the undulating Alpine driving course was their natural environment though!
While some of the fleet CO2 strategies were simply keeping in line with company policy over reducing carbon output, other fleets have identified the fuel savings inherent with lower CO2-emitting vehicles.
They can lop thousands of pounds off the fuel bill simply by adding low CO2/high mpg cars to the choice list. And with manufacturers introducing more and more sub 120g/km models, drivers will find something that meets their needs.
For more on how a green fleet policy can save you money, look out for our Green Guides over the next few days.
See the Greener Company Car in Action video and photo gallery.
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