The BVRLA’s latest quarterly leasing survey results show that that total business leasing sector for cars and vans has grown to 1.350m. This represents an annual growth of 7.6%.
The BVRLA’s latest quarterly leasing survey results show that that total business leasing sector for cars and vans has grown to 1.350m. This represents an annual growth of 7.6%. The fleet is split between 979,000 cars and 371,000 LCV’s. This represents a year on year growth of 2.4% in cars and 14.9% in LCV’s.
Total car leasing (all leasing types) grew by 8% year on year down from 11% in Q1 2017. PCH although small compared to contract Hire grew by 36%. Fleet leasing products including contract hire and finance lease grew by just 2%.
The research shows since quarter 4, 2016 the pace of growth for cars has progressively slowed each quarter, and in Q2 2017, fleet leasing actually reduced quarter-on-quarter (-1%), and the total car fleet remained unchanged(0%). The LCV market continues to grow quarter-on-quarter
The BVRLA car fleet remains substantially cleaner than national averages. The data shows the average emissions for the BVRLA total fleet to be 112.9g/km. This represents a year on year fall of 3.1g/km across the whole fleet. The BVRLA New registrations average emissions figure is 111.8g/km up 0.8g/kg year on year. The national new registrations average of 121.3g/km is also up from 120.4g/km in Q2 2016.
By comparing the CO2 emissions of cars on contract hire with those on personal contract hire we can see that the emissions of vehicles on a personal contract at 120g/km is higher than those on a business contract 111g/km.
The percentage of cars in VED Bands A, B, C, continues to rise. Bands A&B have been increasing consistently year on year, Band C has been stable this quarter retaining a similar level to Q2 2016.
Within Band A 53% of cars are emitting between 95 and 100g/km CO2 whilst around 12% emit less than 50g/km CO2. The data suggests that in addition to the increasing number of cars on fleet being in Band A the proportion of those vehicles emitting less than 94g/km CO2 has also increased year-on-year.
The proportion of diesel cars on fleet continues to decline. Less than three-quarters of the BVRLA total fleet are now diesel (74.9%) and just over two-thirds of new registrations (68%). The substitution appears to be from diesel to petrol rather than electric vehicles. The long-term growth for EVs, including plug-in hybrids continues.
Members’ confidence about the economy and the fleet leasing sector remains negative, but unchanged compared to the previous quarter. Members remain positive about fleet growth but have become progressively less positive each quarter since Q4 2016. Members remain concerned about used car values but have become progressively less negative since Q4 2015.