The BVRLA has published findings from both its half-year Leasing Broker Survey and Quarterly Leasing Survey, showing an overall market decline despite increasing demand for personal contracts.
The overall BVRLA lease fleet shrank by 3.6% year-on-year according to the latest Q2-2020 Quarterly Leasing Survey, as a 2.1% growth in the LCV fleet size partially offset the 5.2% drop in the total car fleet.
Business contract hire saw its largest ever fall since the survey began, with cars down by -9.7% year-on-year to 793,171. In contrast, the personal contract hire car fleet increased by 5.7% to 271,264.
The study shows a growth in the number of battery electric vehicles on the BVRLA fleet, up 1.8% year-on-year and new BEV registrations were up 5.5% compared to the same period last year.
The latest Leasing Broker Survey shows that the BVRLA leasing broker channel fleet grew by 7% year-on-year, with 362,461 cars and vans on fleet. Despite seeing an increase in the number of consumer contracts for cars, new contracts for both cars and vans dropped sharply in the first half of 2020, compared to H1-2019, down 13% and 12% respectively.
Read the press release issued 27 October 2020: Personal leasing demand helps offset market decline