Credit crunch could force bank-owned leasing companies out of sector

The credit crunch could force some of the leasing industry’s big players out of the market, according to Jon Walden, boss of UK contract hire firm Lex. Speaking to BusinessCar: Mr Walden said: “We could see one or two of the top 10 decide to exit the leasing industry. It won’t reshape the industry. Could I see five? No, but I can see one or two doing it. A recession is more likely to show up weaknesses of poorly managed firms, at which point the owners may say they don’t want to be there any more.”

The majority of Britain’s biggest contract hire and leasing companies, including Lex, are owned by the major banks.

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