GM UK Drops Masterlease, New Path with ALD Automotive

The UK branch of American manufacturer GM announced today it has form a partnership with ALD Automotive to manage its Private Label Leasing operation, including Vauxhall Leasing, Saab Contract Hire and Chevrolet Lease. The new agreement will come into effect on August 31, after GM's contract with Masterlease will end. The latter will continue to operate existing vehicle contracts written prior to 28 August.

“I am delighted to announce that General Motors UK Ltd and ALD Automotive will launch a new partnership to manage GM UK Leasing Private Label Leasing operations.  I’d also like thank Masterlease for its support over the last 8 years,” Maurice Howkins, GM UK fleet sales director said in a release.

ALD Automotive is backed by Societe Generale, and manages today some 1 million vehicles in around 40 European countries, making it the second largest leasing operation on the Old Continent.

“We are very proud to be the new Private Label Leasing partner for General Motors UK Ltd.  This represents a significant growth opportunity for us and we expect GM UK Leasing’s business customers and GM’s Retailers to benefit from our comprehensive range of innovative funding and management products, meeting the needs of both the corporate and consumer markets,” Keith Allen, ALD Automotive managing director added.

“We have had a long term and important private label leasing partnership with General Motors UK Ltd and whilst we hand over the reins to its new partner, we look forward to maintaining an ongoing and valuable relationship with General Motors through the Masterlease brand," Peter Tatlock, Masterlease managing director concluded.