Members of the British Vehicle Rental and Leasing Association (BVRLA) have reported that their fleet size in 2005 increased by 5% – to a new record total of 2.6 million units.
Contract hire now forms more than 57% of the total fleet and increased by 166,000 units to a new high of 1.507 million units.
John Lewis, director general of the BVRLA, said: ‘It just shows the ever-increasing attraction of contract hire as a funding method.
‘Our members now have more vehicles out on contract hire than ever before. Contract hire is risk-free for customers in an age where risk is difficult to manage.’
Figures produced by the organisation show other funding methods have grown, including ECO schemes.
Lewis said: ‘It’s not only contract hire that gained. Personal contracts, including ECO schemes, moved ahead by 16,000 units. In overall terms, with an annual increase of more than 5%, it shows the industry is increasingly providing the services that fleet operators require.’
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