Lex Autolease Maintains Positive Growth In First Half Of 2016

Lex Autolease, the UK’s leading fleet management company and part of Lloyds Banking Group, maintained positive growth in the first half of 2016. The business achieved fleet growth of 12,224 vehicles, (3.9% growth in its fleet size) to 329,865 vehicles during the first half of 2016. This represents a year-on-year rise of 8.5%.

The business delivered over 40,000 cars and over 13,000 light commercial vehicles to its customers during the first half of 2016. It also added over 15,000 new customers in the same period with a record number of new small and medium sized business customers leasing vehicles from the business.

Year-on-year, operating lease assets grew 16%, driven largely by new SME customer activity.

Tim Porter, Managing Director of Lex Autolease, said: “We have made good progress in the first half of 2016 and are working hard to ensure we continue to provide the high quality service that has underpinned our growth in new customers and retention of existing customers. We remain on track to meet our ambitious five year fleet growth plan. We continue to invest in our business and review our operating model to ensure that we keep on meeting our customers’ evolving needs and provide good value.

“I am delighted that we are leading the way with strong growth in our alternative fuel fleet, and our focus on expanding further into the small and medium sized business market is evidence of how we are helping this vital segment of the British economy to prosper.”