RCI Financial Services has made the strategic decision to move the provision of contract hire to the Renault, Dacia, Nissan and Infiniti dealer networks in-house.
Arval had been operating as the outsource partner for the provision of contract hire for the past four years, but this decision will see that arrangement end after June 30, 2014.
However, prior to June 30, Arval will continue to operate Renault, Dacia, Infiniti and Nissan Business Finance and fulfil new orders
After this point, it will also continue to deliver vehicles in the existing order bank as well as providing customer and driver support throughout the de-fleeting process.
During this period, both businesses will maintain a close working relationship to support the Renault, Dacia, Nissan and Infiniti dealer network and the existing customers.
Malcolm Banfield, commercial director at RCI Financial Services, said: “This is a strategic, international decision which reflects a changing market which we believe we can capitalise on and is in no way a reflection of Arval’s performance which has been very strong, particularly in 2013.
“We must now build upon the volumes that Arval has delivered for Nissan, Renault, Dacia and Infiniti.”
RCI Financial Services said that a joint project team has been established to manage this change over the coming months and ensure a smooth transition.