The total business fleet leasing market for cars and vans has grown 2.5pct year-on-year to 1,338,000, according to findings from the latest Quarterly Leasing Survey by the British Vehicle Rental and Leasing Association (BVRLA). It’s an upswing that comes off the back of two consecutive quarters of growth.
Q3 2017 figures reveal that the car portion of the business fleet leasing market declined marginally (0.3pct) to 964,000 year-on-year. In comparison, the LCV sector enjoyed its ninth consecutive quarterly increase, rising strongly by 10.3pct year-on-year to 374,000.
Across all car leasing types, BVRLA reported 6pct growth year-on-year, down from 11pct in Q1 2017. This increase was largely driven by the personal contract hire (PCH) sector. Q3 2017 data from BVRLA members suggests the PCH market grew 28pct year-on-year, somewhat less strongly than the outlying 49pct growth figure for the same period in 2016.
The BVRLA also revealed at its recent Industry Outlook Conference that diesel’s reign as the fuel of choice in the industry appears to b e coming to an end. 2018 is on course to be the year that petrol will overtake diesel, due largely to environmental pressures. In the year to November, diesel's share of fleet stands at around 53pct, as opposed to to 61pct in 2016.
We have also recently seen some leasing companies offering models in petrol variants for the first time. This is, of course, likely to look like a stopgap measure as the industry gears up in favour of hybrid and full electric power.