Fleet News

Sharp moves to sale and leaseback for employee purchase scheme

SHARP Electronics is to sell and leaseback its fleet, and move its company car drivers to a structured employee car purchase scheme. The electronics giant has signed a £4 million sale and leaseback deal for its 200-vehicle fleet with Zenith Vehicle Contracts, while the employee car purchase scheme was devised by PricewaterhouseCoopers.

The company will retain an in-house fleet manager, although he will concentrate on more holistic issues and other responsibilities. Drivers on the user-chooser fleet will effectively become owners of their 'company' cars and can access vehicle information through the Zenith website, which also allows them to order cars and obtain management data.

Philip Jerome, Zenith's sales and marketing manager, said: 'This contract provides further proof of the growing popularity of personal leasing schemes with their widespread benefits for both employers and employees.'

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