Inchcape Fleet Solutions is to be rebranded as Kinto, the new mobility company launched by Toyota last year.
The rebranding follows the acquisition of IFS by Toyota Fleet Mobility in December last year, as it expanded into the UK’s fleet management and full service leasing market.
The rebranding of IFS as Kinto is expected to be completed within the first six months of 2020.
TFM is a joint venture between Toyota Financial Services Corporation, headquartered in Japan, and Toyota Motor Europe, based in Belgium. It was established in 2018 with the aim of developing a European base for future mobility services by providing full-service leasing products and has subsidiaries in France, Italy and Spain.
Asset Finance International reported at the start of 2019 on the launch of the Kinto brand in Japan, where the service aimed to provide vehicle subscriptions with reduced fees for customers who drive safely and efficiently.
Tom Fux, chief executive officer of Toyota Fleet Mobility Europe, said: “The acquisition of IFS was an important milestone for TFM in the European market. As Toyota transitions from being a car manufacturer to a mobility company, rebranding IFS as Kinto not only ensures that the IFS business remains neutral, it also supports our strategy to grow our total European business by adding new mobility services to our traditional business models.”
Matthew Rumble (pictured), managing director of Inchcape Fleet Solutions, said: “With a strong growth plan and investment from our new owners, we are delighted to have this opportunity to grow our business and continue on our exciting fleet and mobility journey under the new Kinto brand.”
