Fleet News

Hyundai clinches its largest daily rental deal

HYUNDAI has clinched its largest daily rental deal with a £17 million order for 1,500 vehicles from Europcar. The deal involves Accent, Lantra and Lantra estate models and is also a first for Europcar, which has never operated Hyundai vehicles in any of its markets.

With three all-new cars launched in the last 18 months, Hyundai saw sales increase 20% in the first six months of 1996, with much of the growth accounted for by corporate sales. Fleet business now accounts for more than 40% of Hyundai's total sales and the Europcar contract follows overtures from at least two other major daily rental operators.

With the major fleet manufacturers restricting supply into the daily rental market, smaller car-makers have increased fleet sales in the fast-cycle sector, but a Hyundai spokesman said they had negotiated the business on their terms. Vehicles will be replaced after five months or 10,000 miles and disposed of exclusively through Hyundai's dealer network to safeguard residual vales.

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