Hitachi Capital Vehicle Solutions (HCVS) has announced a £3.2
million (€3.7 million) profit at the close of its financial year,
despite reporting significant difficulties in both CV and car
markets.
The result, relating to the year end in March, included results
from subsidiary The Driving Instructor Centre (DIC), which had been
trading for four months at that point.
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HCVS attributes the profitable result to “prudent” risk management,
and mitigation of residual value losses through contract extension
and widening sales channels for used vehicles.
Simon Oliphant, Chief Executive at HCVS, commented, “While it has
been a difficult time for the entire fleet industry and our own
profits are well down on last year. Looking ahead, I am confident
that as the market begins to recover, our own performance will
return to more normal levels.”
Fred Crawley
