ZENTIH has appointed Joe Doyle as managing director of its first direct-to-consumer car leasing offer, ZenAuto, as it gears up for rapid expansion.
Doyle, former chief executive of HR Owen, will lead a dedicated team of 40 as the business invests for planned growth. It is also recruiting for a wide range of technical and development roles as it expands its online platform.
Zenith said it plans to grow ZenAuto to meet increasing demand from drivers for personal leasing options.
ZenAuto launched in March with all leading manufacturers on its site and is updating it regularly with new offers. The business operates direct to consumers and not via brokers.
The service provides personal leasing; with personal contract hire (PCH) the driver pays a fixed lease cost over an agreed term and then returns the car at the end of the contract. Zenith expects rapid growth of PCH in the consumer market as motorists move away from traditional ownership models.
Zenith Chief Executive Tim Buchan said: “ZenAuto is designed to make it easy for drivers to find and lease their next vehicle. We think that this, along with an increasing trend to borrow or rent things rather than own them.
“The compelling value that leasing offers for many drivers makes for a significant opportunity to grow PCH’s share of the market. We anticipate over one million new PCH agreements in the market by 2022.”
According to the British Vehicle Rental and Leasing Association, personal leasing grew by 14% in the first quarter of 2018, compared to a 1% overall decline in the leasing sector.