Business leasing market grows in 2016, says BVRLA
02 December 2016
Author: Daniel Puddicombe
The number of cars and vans within the business leasing sector has grown by 5.2% year on year to 1.3 million vehicles, the latest results from the BVRLA's quarterly leasing survey has revealed.
Much of this growth is down to the booming van market, with the number of leased vans increasing by 13% to 379,000 LCVs, while the number of leased cars grew by 2.2% to 972,000 units.
Meanwhile, the BVRLA announced it has seen a 16% rise in membership in the past year, an increase of 128 from the end of 2015, to 908 members.
According to the rental and leasing body, much of this growth came from the leasing broker sector, with membership increasing by 40% to 308.
BVRLA members are now responsible for more than 4.7 million vehicles on UK roads, an increase of 200,000 compared with December 2015's figures.
"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. 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," said BVRLA chief executive Gerry Keaney.