LVL wins £1 bn outsourcing contract with Ford Business Partner

Lex Vehicle Leasing has won a pioneering new outsourcing contract with Ford Business Partner, the contract hire arm of Ford Credit.

Under the new contract, Lex will provide contract hire infrastructure services to the Ford family of brands (Ford, Jaguar, Land Rover, Mazda, Volvo and Aston Martin). All sales and marketing activities will continue to be owned by Ford Financial and marketed as 'Ford Business Partner', with Lex funding and managing the existing fleet of approximately 20,000 vehicles. Revenues are anticipated to reach £1bn over the life of the seven-year contract.