Car leasing business sees turnover hit £2.45m in record year
Cars on Demand, the Leeds-based short-term leasing company, has achieved a year of record results after turnover grew by 30% to £2.45m in 2018.
Spearheaded by an increase in demand for its short-term lease packages, this growth period has also seen a 22% increase in EBITDA profits to £422,343.
Throughout 2018, the company invested more than £75,000 on systems, training and service enhancements, including the introduction of an on-line reservations and vehicle ordering platform (IQ) to manage vehicle fleet, invoicing and CRM.
Cars on Demand has offices located across the UK in order to provide a nationwide delivery and collection service, with locations in Leeds, Manchester, Belfast, Edinburgh, Silverstone and Dorking.
Throughout the year, over 1200 cars were leased across the company’s sites.
Paul Brown, managing director of Cars on Demand, said: “The recent growth reflects the efforts we are making to deliver an exceptional hassle-free service to customers, both old and new. We pride ourselves in working alongside the customer to come up with a leasing solution which suits their individual needs and we aim to continue with our efforts over the coming year.
“There are many exciting developments across the market over the next 12 months and these continue to offer new opportunities around innovation, technology and the vehicle leasing industry as a whole. We expect to see this translate to further growth and revenue generation in 2019.”
The company said that it is expecting that 2019 will bring further growth, with a projected turnover of £3m based upon a target of 1400 vehicles leased.
