Lombard and ALD Automotive are set to launch a joint vehicle
contract hire and fleet management service Lombard Vehicle
Solutions (LVS) in July.
The launch of LVS is part of the five year agreement announced
in February following the decision by Lombard’s parent Royal Bank
of Scotland (RBS) to wind down Lombard Vehicle Management (LVM)
business.
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Through the deal ALD will provide services to existing LVM
customers until the contracts to come to term and will sign new
business under the LVS brand.
ALD’s current fleet size is 73,000 and the Societe Generale
subsidiary anticipates 30,000 new vehicle contracts to be generated
through LVS over the next five years.
Alexander Baldock, outgoing managing director of Lombard, said:
“Having explored a number of options we have partnered with ALD
Automotive to present this exciting new proposition.”
Keith Allen, managing director of ALD Automotive, said: “We have
been working very closely with RBS and Lombard over the past four
months and the implementation plan has run smoothly.”
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By GlobalData“The feedback about the new Lombard Vehicle Solutions
proposition from the existing LVM customers has been very positive
and it is clear that there is a huge opportunity ahead to grow this
new business sales channel over the next five years.”
Allen added all the systems, people and marketing were in place
for LVS to officially launch on 2 July.
