Major Leasing Company Withdraws From Small Companies

Monday, 24. November 2008

The leasing sector is starting to contract as was predicted in my newsletter a few weeks ago. GE Capital Solutions, number 8 in the top 50 leasing companies in the UK says it will no longer deal with fleets of less than 50 vehicles. The company says that it wants to concentrate its efforts in securing business in the larger UK corporate accounts and pan-European accounts, giving the smaller companies fewer choices and less competition. Their total European fleet size is 350,000 vehicles so whilst this move may be seen to play to the strengths of the business it reduces competition in the SME sector which is where the help is needed. By Graham Hill