Fleet News

VELO rebrands and expands

VELO has rebranded and is to expand its daily rental subsidiary as the first move in the development of the company following its change of ownership late last year. This week the fleet management and leasing specialist, which was bought by newly-formed holding company The Motor Group from Desdner Kleinwort Benson revealed that LMR car rental would now be called VELO Rental Management.

Founded in 1985 as London Motorentals, the company was bought by VELO with the aim of providing its contract hire, fleet management and accident management customers with short-term rental cars when required. At any one time, the company has about 300 vehicles on hire - some owned and some brokered through other rental companies. Now The Motor Group is aiming to expand VELO Rental Management by providing a rental service to a wider corporate base.

Over the next three years, the company aims to have more than 1,000 vehicles on hire at any one time as a result of expanding its core leasing and fleet management business, its branded VELO Motor Accident Management service and breaking into the wider corporate market.

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