The increasing appeal of electric vehicles is helping the leasing sector to return to growth following the initial impact of the pandemic, according to the latest figures from the BVRLA.
The latest Leasing Outlook report shows that, in the third quarter of 2021, battery electric vehicles (BEVs) accounted for 21% of new cars ordered by BVRLA members, with the total number of BEVs on the BVRLA fleet expected to grow a further 53% (from 137,000 to 210,000) by Q3 2022.
The quarterly report also shows that the BVRLA fleet has returned to growth for the first time in three years, up 2.8% year on year, supported by the popularity of vans continuing to accelerate. The BVLRA van fleet has grown by more than 40,000 units year on year, approximately 10%, now accounting for one-in-four vehicles operated by BVRLA members in the leasing sector.
BVRLA Chief Executive, Gerry Keaney said: “Our industry can be immensely proud of the progress it has made over the last 12 months. Our sector continues to lead the charge towards zero-emission vehicles, even in the face of a global supply shortage.
“We have seen the lease fleet size return to growth for the first time in three years, demonstrating the sector’s resilience. While this is predominantly due to the popularity of vans, it is notable that car registrations have seen positive performance, marking a significant turnaround as the recovery from 2020 takes hold.
“The positive performance is testament to the quality of the vehicles available, the confidence in the long-term health of the market, and the ongoing commitment of BVRLA members to decarbonise their fleets to ensure the UK can meet its Net Zero ambitions.”
View the full Leasing Outlook report on the BVRLA website.
