CONTRACT hire firm Hitachi Capital Vehicle Solutions is moving back into the SME market
The move will mean more widespread car leasing offers for small businesses and greater competition for SME business.
Having left the SME arena in 2009 when Peter Leyden was heading up its small business division, Hitachi has just concluded a deal to acquire 9000 vehicles that were owned and run by Lombard Vehicle Management, part of the RBS Group.
Hitachi says these vehicles are mainly cars and vans run by smaller fleets and SMEs.
Commenting on the deal, a spokesman for Lombard, the asset finance division of RBS, said:
Hitachi has just concluded a deal to acquire 9000 vehicles that were owned and run by Lombard Vehicle Management
“In 2012 Lombard launched its new contract hire proposition, Lombard Vehicle Solutions (LVS), through ALD Automotive. The launch of this proposition followed the announcement that Lombard would be closing its vehicle contract hire and vehicle leasing division.
“As part of this process, LVM has now concluded an agreement with Hitachi Capital to clear its remaining 9000 vehicle fleet from the balance sheet.”
Hitachi operates a vehicle fleet of 70,000 vehicles, both cars and vans. It said that it had set up a special team to integrate the former Lombard small fleet customers into the Hitachi set up.
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