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Rising demand for business contract hire and EVs has contributed to the BVRLA's leasing fleet surpassing its pre-pandemic volumes, the rental and leasing industry body has said.
Its most recent Leasing Outlook Survey, covering the period to the end of 2022, found a 0.3% growth in members' total fleet, despite continuing problems with vehicle supply.
The BVRLA has attributed this to 4% year-on-year growth in business contract hire, which it said was thanks to long-term clarity on EV company car rates, with EVs now making up 53% of new BCH cars.
It said this had also contributed to a further improvement in average CO2 emissions from its leasing car fleet, which now stand at 95.6g/km - a 16% improvement over the last five years.
BVRLA chief executive Gerry Keaney said: "On the backdrop of an incredibly turbulent year, we are again reporting growth. As we face inflationary cost pressures, high interest rates and global uncertainty, it is vehicle supply that is pulling up the handbrake.
"A favourable tax regime coupled with the agility of our sector is creating demand for vehicles unlike anything we've seen. Supply simply must catch up."
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