Hyundai aims to double UK leasing market share
The company is continuing its expansion in the fleet sector. Sales have increased 10% this year, with end-user sales increased by a quarter. As a result, around 30 new Business Centres have been appointed this year and recruitment is underway for a fleet aftersales manager to work with corporate customers.
‘We’re a growing business, we’re attracting new customers all of the time and we now have a first-class infrastructure to service them,’ Wilson outlined.
But while Wilson said the growth seen in recent years is showing no signs of slowing down, the company is hoping to increase its share of the leasing market from 1.7% in 2013 to 3.5% within a couple of years, matching its share of the total UK market.
Products will play a big part, with Hyundai announcing 22 new models or derivatives by 2017, but a national leasing manager has recently been appointed to work with leasing companies and ensure competitive rentals and explain recent work to reduce SMR costs and improve residual values.
‘At the moment we probably have a market share in the leasing sector of anywhere between 1.3 and 1.7%,’ Wilson said. ‘I’m looking to my guys to put that up to 2% for next year. Ultimately we need to be aiming for a UK market share of about 3.5%. That’s a bold target but that’s something I’m aiming for in the next couple of years.’
‘The leasing business is not going to be an overnight fix,’ he said. ‘We need to continually change the view of our product and to be that viable option – that’s about making sure businesses understand our product, but also that we’re flexible with the top 20 leasing companies.