The BVRLA has released its Leasing Broker Survey report for the year ending December 2020 showing that despite the impact of the Covid pandemic, the BVRLA broker channel fleet grew by 379,617, up 6% compared to the end of 2019.
The total vehicle fleet size reached a new record in 2020 and is nearly three times the fleet size recorded in 2013. Although fewer new contracts were added to the fleet in 2020, total growth was achieved because vehicles were still added at a faster rate than the 2017/18 additions were de-fleeted.
New contracts for cars were down 9.5% year-on-year, but this represents a recovery in demand compared to even greater falls during H1 2020. New car contracts for PCH were double those of BCH, but demand for both fell in 2020.
New contracts for vans fell 9.9% year-on-year. However, after faltering in H1 2020, the van sector returned to growth at the end of H2 2020, as PCH demand drove orders.
A summary of the report is available on the BVRLA website.
Members can access the full Bi-annual Leasing Broker Survey report (December 2020).