HITACHI Capital Vehicle Solutions is no more. Official.
It’s now Novuna Vehicles Solutions after the company’s rebrand which completed 14 February 2022.
It follows the merger between the fourth largest bank in the world – Mitsubishi HC Capital Inc – and Hitachi’s parent company.
And the focus is firmly on taking the market EV as the company pledges to fully decarbonise its car and small van fleet by 2030.
The broker funder says that its rebrand will build on the company’s recent growth where it recorded the largest percentage growth – 17% – of the Fleet News FN50 top 10 providers in 2021, while it will also strengthen and broaden its range of services under its new name to accelerate the wider uptake of EVs beyond fleets.
Increase in tactical broker budget
Chris Swallow (right), national sales manager – associates, at Novuna Vehicle Solutions, says that his broker budget for tactical campaigns has been increased by 20% to assist the purchase of more expensive EVs as part of the new Novuna branding.
“All our tactical deals are EV at the moment and our strategy is to convert to battery electric vehicles. We’re strong on RVs and that’s where the opportunities lie,” said Chris, adding: “When it comes to battery electric vehicles, we’ll be at the forefront that’s for sure.”
Fresh new brand, powerful new backing
Chris said the Novuna brand change was “fresh and a bit more modern and moves us away with our historic association to trains and so on. All the finance side has changed to Novuna branding – such as Novuna Consumer Finance and Novuna Personal Finance – so that makes it exciting.
“But what is really important is the backing power as part of the fourth largest bank in the world – what that brings to brokers is quite unique.”
New name but personal service doesn’t change
However, Chris was keen to point out that, while there is a new name, old Hitachi values of team accessibility do not alter.
We will continue to offer that relationship bridge to the business rather than being a faceless funding brand. The SME team remains exactly the same with all the values that went before it.Chris Swallow, national sales manager – associates, Novuna Vehicle Solutions
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.