The latest Leasing Broker Research published by the BVRLA for January to June 2018 period shows that the total number of vehicles on contract is up 5% from the end of 2017 at 302,413 - a net increase of 15,187.
However, the growth rate is slowing with the total number of new contracts in this period at 45,855 compared to 50,140 during the same period last year.
For cars, growth appears to be driven largely by Personal Contract Hire (PCH), with 61% of new contracts in the first half of 2018 being PCH. Five years ago, in 2013, 26% of all car contracts were PCH and that proportion has risen to 55%.
Other highlights include:
• PCH is beginning to dominate the sector, responsible for 55% of cars on fleet.
• Business contract hire represents 40% of cars on fleet.
• 61% of new contracts in first half of 2018 were PCH and 35% were business contract hire.
• Market share by product type is stable in the van sector.
• Business contract hire has increased over the last 5 years from 62% in 2013 to 69% so far this year.
• Finance lease has 32% share and the recent decline appears to have stabilised.
The BVRLA carries out leasing broker research twice a year, providing the industry with an understanding of the size, scope and scale of the leasing broker sector. The data includes, market trends, and activity within the broker community.