BVRLA reports declining market share for business contract hire
08 February 2019
Author: Sean Keywood
The share of the car leasing market attributed to business contract hire (BCH) fell during 2018, according to the British Vehicle Rental and Leasing Association (BVRLA).
The organisation's leasing broker statistics show that year-on-year BCH's market share fell from 42% to 38%, while 57% of cars were under personal contract hire agreements.
Overall, the leasing market grew by 10% in 2018, with the total number of contracts standing at 316,205.
BVRLA chief executive Gerry Keaney said: "Vehicle leasing remains strong as drivers continue to move away from vehicle ownership to usership and look for cleaner, more affordable vehicles.
"These latest figures reflect the fact that members are dealing more with personal customers than ever before.
"Although business customers continue to be vital, the growth appears to be in the business-to-consumer market and that affords some great opportunities for our members."