Vehicle Leasing and Rental Industry Worth 14 Billion Pounds in UK Economy

With regards to the U.K. economy, a new report by the British Vehicle Rental and Licensing Agency (BVRLA) shows the value of the vehicle rental and leasing industry.

The report’s findings conclude that car hire agencies (including both the rental and leasing industries) are pumping as much as 14 billion pounds a year back into the economy and offer 38,000 jobs for Britons. An additional 145,000 people are employed through supply chain operations and related business.

In total, the BVRLA report states that one out of every 175 working Britons is employed by the rental and leasing industry. BVRLA’s findings indicate that car rental generated 2.85 billion pounds to the U.K. GDP (gross domestic product) through purchases of domestic vehicles, foreign models with U.K.-made engines and transactions with British dealerships.

In addition, the BVRLA report found that the leasing industry is reducing nationwide carbon dioxide levels. Last year, leased vehicles were 25 percent cleaner than the average car, emitting 123 g/km of CO2.

Comment On This Story

Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.


Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Trends Moving the Truck Market

Storylines that emerged from the 2018 Work Truck Show include the increasing need for on-site productivity, inclusion of active safety systems in trucks, DPF frustrations affecting product decisions, data management, and the growing link between fleet management and company revenue.

MIT Study Reinforces the Newfound Importance of Fleet

Uber and Lyft drivers make far less when factoring vehicle expenses, though the actual numbers are now in dispute. A proper lifecycle cost analysis would’ve helped, and shows the benefit of collaboration with fleet professionals.

What a Connected Fleet Means to Avis (and Car Rental)

Counter bypass is just the beginning. The promise of a “data-driven ecosystem” that connects renters with the rental agency, retail services, and even the city is a better managed fleet, an improved user experience, and new revenue opportunities during the rental itself.

Job Finder: Access Top Talent. Fill Key Positions.