Lex Autolease

News

Zenith grows fleet but profitability hit by used vehicle values

The vehicle leasing company has suffered due to volatility in the used car market, particularly with electric vehicles.

Fleet funding 22 Jul

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Leasing giant blames used EV values for multi-million pound loss

Lex Autolease, part of Lloyds Banking Group, has reported a £10.6m loss, just three years after pre-tax profits hit more than half a billion pounds.

Fleet funding 16 Jul

Paul Hyne and Kit Wisdom, Lex Autolease and Tusker

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Lex Autolease gets back to basics, as Tusker sal/sac fleet soars

Strategy review will set Lex Autolease on path to become a ‘great fleet management company’, says commercial director Paul Hyne.

Business profiles - supplier 6 Jun

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Loveelectric hits used electric vehicle milestone

The broker has delivered more than 1,000 used EVs through its salary sacrifice scheme for second-hand cars, Reloved.

Fleet funding 3 Apr

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Xpeng chooses Lloyds as finance and leasing partner

Lex Autolease-owner Lloyds Banking Group will offer finance and leasing products for electric vehicles from Chinese manufacturer Xpeng.

Xpeng 27 Feb

Pile of pound coins on top of £5, £10 and £20 notes

News

Lex Autolease owner Lloyds sets aside £1.25bn for car loan payouts

Lloyds Banking Group has increased the amount of cash it had put aside for potential payouts on car loan commissions.

Funding 21 Feb

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Lex Autolease launches app for PCH customers

Lex Autolease has partnered with Caura to provide its personal contract hire customers with an app to manage all essential vehicle needs in one place.

Lex Autolease 15 Jan

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Richard Jones named new CEO of Zenith

Zenith has appointed the former Blackhorse and Lex Autolease MD as its new group CEO, subject to FCA approval.

Zenith 2 Oct

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Used EV salary sacrifice scheme launched to help manage decline in RVs

Used EV values have fallen 50% over the past 24 months, with Fleet News revealing how leasing companies have been exposed to the losses.

Salary Sacrifice 20 Sept

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Lex Autolease profits fall by £400m | Used EVs blamed for reduction

Pre-tax profits for vehicle leasing company Lex Autolease have plummeted by more than £400m, according to newly-filed accounts.

Fleet funding 29 Aug

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Senior leadership changes at salary sacrifice provider Tusker

Tusker has made changes to its senior leadership team, with Steve Barker stepping down from his role as chief commercial officer.

Tusker 27 Jun

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Fleets to only have fully electric cars within four years

Lex Autolease survey suggests fleet sector’s enthusiasm for electric cars continues to grow.

Fleet strategy 20 Mar

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Three-quarters of Tusker’s fleet now fully electric

Four out of every five cars delivered by Tusker in 2023 were fully electric, helping the salary sacrifice specialist slash average fleet emissions by 50%.

Tusker 6 Mar

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Lex Autolease strikes vehicle rental deal with Nexus

Lex Autolease will use Nexus Vehicle Rental’s rental management platform Iris to streamline its short-term rental provision.

Fleet procurement 15 Feb

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Updated: Tusker CEO Paul Gilshan steps down

Gilshan will join the Tusker board with Kit Wisdom, who was chief operating officer, becoming MD of the business.

Tusker 18 Jan

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FN50 profits exceed £2bn thanks to squeezed new car supply

Pre-tax profits for the FN50 exceeded £2bn for the first time, thanks to record-breaking used car prices driven by the chip shortage, new analysis suggests.

FN50 15 Nov

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Lex Autolease videos to support van fleets transitioning to electric

A new four-part video series aims to provide in-depth insights and advice for anyone transitioning a commercial fleet to electric light commercial vehicles.

Insight & policy 18 Oct

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Industry jobs: Roles filled at Volkswagen Commercial Vehicles, Michelin, Indicata, FLA, Believe and Autotech Academy

The latest industry appointments, including John Ricardo-Neto named new head of product planning at VWCV.

appointments 10 Aug

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Lex Autolease report looks at what’s driving fleet electrification

Almost half of fleet vehicles are already electric and two thirds of managers have grown the number of EVs they operate in the past year, by an average of 19%.

20 Jul

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