Despite focusing on vehicles up to 7.5-tonnes, the investment will cover its full commercial range. The group is planning to invest £22 million this year, including plans to expand throughout the UK. Ryder will open a new network in Hull this April, with other locations opening during the year.
European vice-president and managing director Peter Backhouse said: 'Commercial rental and contract hire is a growth market and we have a strong appetite to invest in it. Our customers will benefit from supreme levels of service and will see newer vehicles.'
As part of its investment plan, Ryder is also aiming to reduce the average age of its vehicles and to branch out into Europe. Backhouse added: 'In 2003, our investment in our fleet management sector will exceed £100m. This includes investment in new vehicles, new locations, customer care programmes, customer service training, technology, and new products and services.'