The new PCP product is expected to bring in more company car drivers who have taken a cash for car option at work. The firm, which expects to reach profit by 2001 under current sales targets, expects 'significant' demand from small to medium sized fleets through the PCP and a major focus on the business sales potential of the growing Virgin Cars brand.
Arval PHH Vehicle Solutions backs the PCP scheme, with additional services including gap insurance.
However, the firm ruled out entering the contract hire industry as a stand-alone contract hire supplier, preferring instead to link-up with existing providers and use its brand to introduce new business. The firm did not rule out a future service where it would provide access to rail, air and road travel all under one monthly payment.
Ian Lancaster, chief executive officer at Virgin Cars, said: 'This is very clearly our vision for the future, because we have contact with several different types of mobility provider.
'A driver could even be able to move to a four-wheel drive in the winter and a cabriolet in the summer and the solution does not just have to include cars. There is no particular timescale for this, as our current focus is profitability by 2001. This is absolute proof that not all dotcoms go bust.'