Staffordshire-based fleet management firm CBVC Vehicle Management is strengthening its new dedicated salary sacrifice division.
The firm has appointed Ryan Spencer, who joined the firm last year, to head the team.
Spencer started on CBVC Vehicle Management’s Leasing Gorilla brand before rising to the position of sales manager and then to the head of the salary sacrifice in August this year.
Before joining the CBVC Vehicle Management, Spencer worked for Pendragon Vehicle Management as the head of its B2C leasing division.
CBVC Vehicle Management head of salary sacrifice Ryan Spencer said: “We are looking for significant expansion once it gets up to speed and we are expecting to sign our first major contract imminently. Salary sacrifice is certainly the fleet market’s hot ticket at the moment. It is an exciting time for the business and I am thrilled to head up the new division.”
According to the British Vehicle Rental and Leasing Association (BVRLA), salary sacrifice is currently the ‘fastest’ growing funding method.
Particularly, the salary sacrifice service is attractive for electric vehicles with electric car tax rates fixed at 2% until the end of the financial year 2024-25, the firm noted.
The offering is also regarded as staff recruitment and retention tool because it offers substantial employee benefits in a cost-effective manner, it added
Ryan commented: “Salary sacrifice has real benefits for both the business and the driver. In terms of our approach, we will not be looking to swap drivers out of company cars and into salary sacrifice cars. “We will be looking to support companies with ‘grey fleet’ drivers and businesses wishing to extend the provision of lease vehicles to staff who do not qualify for a company car.”