Following the acquisition of Inchcape Fleet Solutions (IFS) by Toyota Fleet Mobility (TFM), the business is to be rebranded as Kinto, the new mobility brand launched by Toyota earlier this year.
TFM completed its acquisition of IFS in December 2019, continuing its expansion in Europe and entering the UK’s fleet management and full service leasing market with the benefit of IFS’s established operations and customer base. As one of the UK’s largest and best-known independent fleet management and leasing specialists, IFS offers a complete portfolio of fleet management and funding solutions for passenger and commercial vehicles across corporate, public, not-for-profit and SME sectors.
The rebranding of IFS as Kinto is expected to be completed within the first six months of 2020.
Tom Fux, CEO 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, Managing Director 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.”
Kinto is dedicated to offering mobility services to users across Europe and is part of Toyota’s global vision to evolve into a mobility company that provides all kinds of services related to the transportation of people, all around the world. Kinto is derived from the Japanese word kintoun or flying nimbus, a cloud which provides on-demand transport for a famous animated character in Japan. Just like kintoun, Kinto wants to be available every time a customer looks for easy and clever ways to move around, whenever and wherever.
TFM is a joint venture between Toyota Financial Services Corporation, headquartered in Nagoya, Japan, and Toyota Motor Europe, based in Brussels, Belgium. The company was established in 2018 with the aim of developing a European base for future mobility services by providing full service leasing products. TFM has subsidiaries in France, Italy and Spain.