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Leasing broker sector up by 30% in two years, says BVRLA
Date: 03 July 2015 | Author: Daniel Puddicombe
Leasing brokers are playing an increasingly important role within the vehicle finance sector, the BVRLA has found.
The rental and leasing association conducted a survey of leasing broker activity, which found that the channel has seen a 30% increase in fleet size over the last two years with what it calls key funders reporting they had a total of 161,775 broker-originated cars on contract in 2014, an increase of 20% on 2013's figures and up by 30% compared to 2012.
The broker car lease fleet reached 119,036 vehicles in 2014, with contract hire cars making up the largest portion, growing to 73,140 units (up 15%), while the fastest growing sector was personal contract hire, where the fleet size increased by 39% to 35,242 units.
Meanwhile, van leasing volumes increased by 19% to 42,739 units in 2014, driven by a growth in finance lease (up 27%) and contract hire (up 14%) products.
"Our sector is going from strength to strength and has a lot to be proud of," said Mike Potter, BVRLA leasing broker committee chairman. "We are converting a whole new generation of consumers and businesses to the benefits of low-risk, fixed-cost motoring."
