Britain’s Rental and Leasing Sector Continues to Grow

The British Vehicle Rental and Leasing Association (BVRLA) now has more than 900 members — a 16% increase since the end of 2015.

The announcement was made at the association's annual industry conference where BVRLA Chief Executive Gerry Keaney delivered a review of 2016 as well as the association's outlook for 2017.

“The association has now welcomed its 900th member, and we are fast approaching a combined fleet size of five million vehicles, which has never happened before,” said Keaney. “In the last three years, both membership and fleet size have grown by more than 30%, which corresponds with the growing strength of the industry which is now more influential than ever.”

The majority of companies who have joined the association in 2016 are leasing brokers. This sector now consists of 308 members, a 40% year-on-year increase.

The overall growth in membership has had an impact on the number of vehicles that members are responsible for, according to the association. The number of vehicles on members’ fleets has now passed 4.7 million — more than 3.8 million are cars.

According to the results of the BVRLA’s latest quarterly leasing survey, the number of cars and vans within the business leasing sector (contract hire and finance lease) has grown by 5.2% year-on-year, with the car fleet increasing by 2.2% and the van figure up 13%.

The overall size of the BVRLA car leasing fleet has increased by 10% year-on-year, with personal contract hire accounting for nearly 60% of this growth, according to the association.