Fleet News

Lex aims for the top in European leasing

Lex Vehicle Leasing has announced ambitious plans to become the biggest full service leasing company in Europe by 2005.

The UK-based company is a member of the Global Fleet Services alliance, which has member companies operating almost one million vehicles worldwide, predominantly in the US and Europe.

In a statement-of-intent, penned for Lex employees, managing director Jon Walden wrote: 'Our goal is to become the leading full service leasing company in Europe. This means obtaining 10% of the market by 2005. We will achieve this goal by being a customer-focused sales-driven business.

'Customers are number one on our agenda. We will listen to what they say and act on it. When we make a promise we will keep it.'

The company also said it was aiming to offer general travel management services to corporate clients.

To achieve the desired expansion, Lex must expand its current vehicle fleet of 92,577 units to about 150,000 vehicles to take a 10% stake in the UK market and double that figure for a 10% stake in Europe.

Walden said Lex would consider acquisitions to achieve its growth aims.

By 2005, the company believes it will also offer rail and plane ticket booking services to corporate travellers. 'With the growing popularity of strategic alliances between companies, Lex Vehicle Leasing could become a fully integrated travel service provider in the corporate area,' the company said.

Explaining the importance of using alliances, Walden said: 'It is a low risk route for us, although it could be three to four years away. But developments in that area will be driven by our customers.'

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee