Dutch Government Plough 2 billion Euros Into Vehicle Leasing Industry

Wednesday, 24. December 2008

The Dutch government have taken the lead by guaranteeing a 1.5 billion Euro package for car leasing company Lease Plan. This is part of a 200 billion Euro rescue fund set up by the Dutch. Lease Plan is the first company to take advantage of the rescue fund which, according to Finance Director, David Stickland will provide additional funding for Lease Plan UK. Lease Plan is a multi national company half owned by VW and runs a world wide fleet of 1.3 million vehicles. With the car manufacturers failing it makes more sense to support the leasing companies who can finance more cars and keep demand up rather than support the manufacturers who will end up producing cars that no one can afford to buy or arrange finance for. By Graham Hill