Fleet News

Interleasing swallows Vauxhall MasterHire

VAUXHALL MasterHire, the contract hire and fleet management arm of Vauxhall Motors, is to become a division of Interleasing in the latest in a string of changes that have reshaped the UK leasing industry in the past year. The change was sparked by the decision of logistics firm Exel to pull out of an arrangement to supply back office support to the manufacturer's leasing division.

Interleasing will now provide back-office support, although Vauxhall MasterHire will remain a separate brand. The two firms share the same ultimate parent company, General Motors, as Interleasing is owned by General Motors Acceptance Corporation, the GM financial services subsidiary.

The move also sees the appointment of Howard Lago as acting managing director. Former managing director Rob Eastwood is an Exel employee. Nick Brownrigg will continue to be the managing director of Interleasing.

Interleasing has a fleet of about 78,000 vehicles, including managed units, while MasterHire's is now about 24,000. The combined operation will count a portfolio in excess of 90,000 vehicles, which would make it the second largest vehicle leasing company in the UK according to last year's Fleet News FN50.

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