Fleet News

Survey predicts leasing growth

THE UK car leasing market will continue to grow with personal leasing schemes becoming increasingly popular, according to market analysts MarketLine International. In its latest report, UK Car Leasing, MarketLine values the current market at £4,929 million, but predicts growth of 16.3% to a total market of £5,787 million by the year 2000.

Marketline also found that leased fleets now constitute 1.19 million vehicles - a figure that will rise by 15.3% to 1.45 million in 2000. According to MarketLine's figures, British Car Contracts has the largest leasing fleet in the UK, followed by Cowie Interleasing, Dial Contracts, Lex Vehicle Leasing and Lease Plan - which has enjoyed an annual growth rate of 38% over the last two years.

The survey says personal leasing now accounted for 3% of the total leasing market - up 2.7% compared with 1991 - and predicts continued growth in the UK and eventually throughout Europe. MarketLine is also predicting smaller independent leasing companies will continue to lose business to the larger concerns - especially those owned by the large banks. The survey says independents have 53% of car leasing business in the UK, but in terms of fleet size, their share is much less.

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