New Delhi, Nov 25 (UNI) Fleet management is emerging as a new outsourcied service in the contry, cutting across industry verticals, with cars being leased to corporations becoming the latest trend.
Unlike a cab service provider which transports people from one place to another, a fleet operator provides solutions from fleet acquisition to financing, purchase, insurance, maintenance through the life cycle of the vehicle, damage handling and finally resale, thus ensuring increase in productivity and efficiency while minimising the capital expenditure of the organisation.
''What has turned out to be an accepted norm in mature markets worldwide, is now gradually finding its way in the country and percolating to non-metros,'' LeasePlan India Country Head, Sanjeev Prasad told UNI.
LeasePlan Corporation, world's leading vehicle leasing and fleet management company with more than 1.3 million vehicles worldwide and presence in 29 countries, has grown exponentially and has almost 75 per cent of the market share in the country.
Typically, multinational corporations, which are accustomed to outsourcing non-core areas, go in for outsourced fleet management once they set up a base in India. Thus, Coca-Cola, Adobe, Du Pont, Barclays and Indian majors such as Reliance, Benetton Group etc are comfortable with this approach.
LeasePlan India Ltd is a joint venture between LeasePlan Corporation (51 per cent) and UK Paints (49 per cent). Since its inception in India in 1999, the company has acquired over 620 corporate clients.
However, given the country's population and market potential, the industry is still nascent with few players and many others in the unorganised segment.