BVRLA: Number of fleet vehicles through brokers up 20% in 2014
The number of broker-originated vehicles on contract with funders increased by 20% last year compared to 2013, according to a survey by the British Vehicle Rental and Leasing Association (BVRLA).
The BVRLA said that ‘key’ funders had reported a total of 161,775 broker-originated vehicles on contract in 2014.
This figure was also 30% higher than the amount of broker-originated vehicles on contract reported in 2012.
The broker car lease fleet reached 119,036 units in 2014. Contract hire cars made up the largest portion, having grown to 73,140, up 15% on the previous year.
The survey found that the fastest growing sector was personal contract hire, where the fleet size rose by 39% to 35,242 cars.
The rest of the broker-originated vehicles on contract were vans, which rose 19% year-on-year to 42,739 in 2014. This increase was driven by the growth in contract hire (+14%) and finance lease (+27%) products.
BVRLA’s leasing broker committee chairman Mike Potter, said: “Our sector is going from strength to strength and has a lot to be proud of.
“We are converting a whole new generation of consumers and businesses to the benefits of low-risk, fixed-cost motoring.”