The latest BVRLA leasing broker statistics shows a levelling out of the market during 2018 as the overall rate of growth remained at 10%, commensurate with 2017 figures.
Total number of contracts at the end of 2018 was 316,205, a net increase of 28,979. The volume of new contracts was 107,787, up from 98,129 during the same period last year.
For cars, personal contract hire (PCH) continues to dominate the sector representing 57% of all car leasing contracts on fleet, whilst business contract hire (BCH) was down from 42% to 38% of cars on fleet.
Although new contracts for vans grew by 284 units in 2018, a small but ongoing decline in the van market for finance lease is becoming apparent.
BVRLA Chief Executive Gerry Keaney said: “Vehicle leasing remains strong as drivers continue to move away from vehicle ownership to usership and look for cleaner, affordable vehicles. These latest figures reflect the fact that members are dealing more with personal customers than ever before.
“Although business customers continue to be vital, the growth appears to be in the business-to-consumer market and that affords some great opportunities for our members.”