Lex AutoLease, the fleet arm of Lloyds Bank, has achieved net fleet growth of 6% year-on-year in the first half of 2015. The lessor’s fleet size exceeded 300,000 vehicles over this period.
The business delivered more than 37,500 cars and 10,500 commercial vehicles to its customers during the first half of 2015. It also added 8000 new customers with a ‘record’ number of new small and medium sized business customer wins.
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In the first six months of 2015, operating lease assets increased by 3% to £3.2bn (4.56bn) from £3.1bn.
Tim Porter, managing director of Lex Autolease, said: "We are working hard to ensure we meet our ambitious targets to grow our fleet size as part of our five year plan and have made good progress in the first half of 2015. Our customers continue to upgrade their fleet and have shown strong interest in our new products and services.
"Our focus on expanding into the small and medium sized business market and helping these businesses see the benefit in leasing rather than buying vehicles outright, is also reaping dividends."
August’s edition of Leasing Life magazine will include an interview with Porter on Lex Autolease’s five year plan and targets.
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