LeasePlan starts rental operations in Bangalore

Bangalore, Jan 16 (UNI) LeasePlan, the global leader in fleet and vehicle management, increased its service bouquet by introducing rental operations in Bangalore today.

The Bangalore rental operations were started with an investment of Rs 50 lakhs and expected to grow to Rs ten crore by the end of 2007, the company said in a release here.

Operational since 1999, LeasePlan India had a client base of over 550 clients and a fleet of nearly 11,400 vehicles. Its target markets included multinational companies and Indian corporate houses.

LeasePlan India Country Manager Sanjeev Prasad said ''we are very excited about our Bangalore operations and firmly believe that it will further augment LeasePlan's offerings and add value for the corporates in the city.'' As the leading fleet management company in the country, LeasePlan was experiencing a shortage in the availability of Self Drive cars to provide to its existing customers when their cars were taken for servicing or repairs. Moreover, the company's need for replacement cars was growing by the day with the increasing fleet size. This need was normally fulfilled by Rental Companies in other parts of the world, which offer Self Drive cars as an option. Replacement Cars as a segment constituted over 25 per cent of the revenue stream for most rental companies worldwide, the release said.

UNI