The BVRLA has published its latest Leasing Outlook report. Based on interviews conducted in the early stages of the Coronavirus pandemic, it shows a confident sector that was looking forward to a stronger company car market with surging demand for electric vehicles.
The Spring 2020 report, which provides a snapshot of the leasing market as it entered lockdown, showed that:
Members expected an end to the decline of the company car market, driven by the return of cash allowance takers and more clarity on Benefit-in-Kind tax costs.
There was massive pent-up demand for EVs, but diesel remained a key fleet option.
Elsewhere in the report, data experts at cap hpi and APD have provided a more timely update on the used market and customer satisfaction levels.
On the outlook for used vehicle prices, cap hpi points to a short-term bounce in demand for used vehicles followed by a 12-month gradual downturn in values, with the market not returning to its pre-Covid19 state until June 2023.
Meanwhile, APD’s leasing customer insights from the early stages of the lockdown show that BVRLA members and their supply chain partners had successfully adapted to their new remote working practices and technology and were able to maintain operational support.
The BVRLA Quarterly Leasing Outlook Report combines market data with insight from a panel of industry experts to provide an unrivalled perspective on the current market and its future development.