KITCHEN, bedroom and bathroom supplier Magnet has extended its fleet management contract with Hitachi Capital after slashing costs during its initial contract term.

Hitachi, which provides a management service with maintenance, repair, accident and driving licence management for Magnet's 400-strong fleet, initially agreed on a two-year contract, but this has been extended for a further three years.

Since the contract started, Hitachi has focused on fuel management and pooled mileage systems to cut costs.

Nik Browne, HR services manager, said: 'We are not a straightforward account so we appreciate the fact we get a great deal of flexibility on customer service.

'We are making cost savings as a result of measures introduced over the last two years, which have made a big difference.'

Hitachi offers several funding methods to Magnet including contract hire and a personal leasing scheme for drivers not using company cars.

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