Motability Operations’ Board has approved this donation in anticipation of delivering a strong financial outturn this year; the result of an excellent operating performance, and a windfall from the exceptionally buoyant used-car market.
This donation is one of a series of charitable donations made over the last 10 years. The scale of this payment has been made possible through strong operational and financial performance from the company in 2017/18, making the donation affordable, without diluting capital ratios, or compromising the reserves (which part-fund vehicle purchases, and are the essential shock absorber to keep the Scheme protected).
The company has additionally invested £180m in customer support for Motability Scheme customers in 2017/18, including free vehicle adaptations and a good condition bonus, payable to customers at the end of their vehicle lease.
Motability Operations will publish its 2017/18 Accounts in December 2018.
Motability Scheme Chairman, Lord Sterling, has made a statement regarding the donation at Motability's AGM today.
