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GE Capital gears up for light hire by Robin Meczes

16th April 1998, Page 18
16th April 1998
Page 18
Page 18, 16th April 1998 — GE Capital gears up for light hire by Robin Meczes
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Which of the following most accurately describes the problem?

• Following the acquisition of BRS CarLease from NFC Holdings last year, GE Capital Fleet Services has geared up its fight for market share in the light commercial vehicle (LCV) contract hire sector, establishing a new dedicated LCV business unit, GE Capital VanLease.

The new division, based in Leamington Spa, combines the van and LCV operations of BRS and Avis Fleet Services with over 4,500 vehicles; almost all at or below 3.5 tonnes GVW.

And John McMinn, business manager of the new division, expects the fleet to grow further. "This bold approach will result in us being the leading contender in the LCV contract hire market," he says. "Within three years I expect we'll have an exceptional sized fleet— upwards of 10,000 units."

If fully used, such a fleet would give GE Capital VanLease around 10% of the LCV contract hire market, which McMinn estimates will rise to around 100,000 units by 2001 from today's level of about 50,000 units.


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