According to the recent figures from PHH Vehicle Management Services, in the year to June, PHH bought 24% more vehicles than in the same period last year - amounting to some £160 million worth of business for the manufacturers. Managing director David Knight said the growth looked set to continue as the feelgood factor took hold and predicted PHH would buy a further 3,500 vehicles in August alone.

The figures come hard on the heels of PHH smashing through the 200,000-vehicle barrier for its maintenance management operation in addition to the 600,000 fuel cards it has in circulation. The Swindon-based operation has taken on an extra 110 staff to cope with the extra business over the last 12 months taking its total workforce to 600.