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PCH demand drives new milestone for Lex broker division

Lex Autolease has hit a new milestone of 100,000 vehicles leased through its broker division, helped by strong take-up of PCH solutions.

New cars

Lex’s broker division has hit a new milestone

The firm said the channel is its fast-growing and accounts for 25% of the total fleet, with the growth been driven by increased demand for contract hire solutions from individuals and small businesses.

Steve Cocks, director of Lex Autolease’s Broker Division, said: “Brokers are a key market for Lex Autolease, and our goal is continued sustainable growth in 2018, capitalising on the continued strength of the consumer leasing market. Personal contract hire has once again surpassed contract hire as the most popular product we sell in the broker channel.”

Alongside the growth in PCH, Lex attributed its recent success in the broker division to its strong broker relationships, helped by its support through new measures such as the 2017 launch of the company’s bespoke e-learning portal for brokers.

Commercial vehicles also play a strong role in the Lex Autolease broker fleet, accounting for 30%, and the firm said the broker business continues to partner with specialist commercial vehicle brokers to offer increased capability and specialist expertise.

Steve Cocks – who now reports directly to Lex MD Tim Porter following a recent reorg to reflect the importance of the broker division – concluded: “Our growth is testament to the excellent service delivered by our partners and their understanding of customers’ needs. It also reflects increased awareness of the benefits of contract hire and leasing, as businesses and individuals seek manageable and predictable funding options, as well as expert and insightful consultancy to ensure they get the right vehicle, for the right job.”

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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.