Fleet News

Leasing firms report P-plate boom

TWO UK leasing companies have reported significant increases in August business as a result of the introduction of P-plates.

Berkshire-based Masterdrive Contract Hire and Leasing says business in August has been 'exceptional' and is claiming a number of contract wins including a solus Volkswagen fleet deal with Southend-based Dedman Property Services. Seventeen vehicles in the 20-strong fleet have been acquired in a single phase replacement with the Polos, Golfs and Golf Cabriolets.

The deal was struck under the Mastershare Plan. If maintenance, depreciation and other costs at the end of the contract period are less than originally budgeted, then the customer benefits from a share of the difference. However, if costs on the vehicle exceed those predicted, Masterdrive takes the risk.

Meanwhile, Newbury-based Fleetlease is claiming a record August with deliveries of new cars up by almost 200 units or 25% on those recorded for mid-month last year. Leading the way for orders are vehicles from Vauxhall, BMW, Ford and Audi with the majority of vehicles for Fleetlease's contract hire business, although an increasing percentage has also resulted from its fleet management customers and recently introduced personal leasing scheme - NOVA Contract Motoring.

Sales figures for the first 10 days of August show little change on last year's 258,000 units and it means that final sales figures for the month are likely to be around 470,000-480,000.

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