Fleet News

Practical to look at hire

PRACTICAL Car & Van Rental is looking at launching its own contract hire operation in the light of the slump in residual values and a potential end to 'rate price wars'. Following the recent well-documented drop in residual values which led to profits warnings from Arriva plc and Car Group, Practical Car & Van Rental managing director Bolton Agnew believes the time is right to launch into the contract hire and leasing sector.

The company has just under 200 rental outlets in Britain and the Republic of Ireland and an average fleet size of 3,000 vehicles. It also has relationships with Bristol-based BCH Vehicle Management and Carlisle-based Eden Vehicle Rentals to offer contract hire to corporate customers. Agnew said a decision on moving into contract hire would be made shortly with a view to any new business being launched in the autumn.

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