The leasing broker fleet has seen a slight fall compared to post-pandemic numbers but still above levels seen before 2021, according to the latest BVRLA Leasing Broker report, presenting annual data to June 2024.
Despite the overall decrease, the Business Contract Hire (BCH) market is growing its share, now accounting for 55% of new car contracts and 79% of new van contracts. The shift towards BCH is partially due to targeted incentives supporting uptake of electric vehicles in the company car sector. As such, the leasing broker car fleet is outperforming the ZEV mandate; battery electric vehicles make up 27% of the BVRLA broker car fleet.
Addressing delegates at the Leasing Broker Conference earlier this month, Rod Lloyd, CEO of the lcv group and chair of the BVRLA’s Leasing Broker Committee, said:
“As a sector we are already above ZEV mandate targets for cars and remain a route for manufacturers to meet their obligations. However, falling used values are hitting the sector and all early adopters hard. Those funding the purchase of new EVs are taking on huge risks and shouldering a large burden from falling values. The risk to leasing brokers is that we’ll see higher rental rates in the future at a time when consumers are pushing back against the price of EVs already. The 2030 phase out represents a significant risk to us unless we see greater Government support.”
Fuel type data for car and van fleet is on page 8 of the Report.
View/download the report: BVRLA Bi-annual Leasing Broker Survey June 2024.
