He added: 'Research indicated that the leasing industry is characterised by suppliers who over-promise and under deliver. Alphabet will break that mould and lead the industry into new levels of service.' And divisional managing director Mike Baldry said: 'Alphabet will spell the end for restrictive contracts, limited choices and endless administration. In addition to contract hire, contract purchase, fleet management and finance leasing, we will be offering a host of innovative product enhancements.'

These will include an interactive customer information system, contracts with built-in flexibility and an insurance service which allows customers to fix the premium for the duration of each vehicle's contract term. Other services will include regularly conducting tax computations and sensitivity analyses to make sure customers can get the maximum value from their fleet, and benefit from any changes to legislation or funding or fleet management innovations.