There is no escaping the headlines: for the first time since expanding the FN40 to become the FN50 in 1998, we do not have 50 leasing companies on the list.

Executives have said for the past few years that there are too many leasing companies in the UK and consolidation was inevitable, with some putting a market saturation figure of around 30 companies; however, while there has been some consolidation year-on-year, with more likely in 2023, there are additional reasons for falling short of 50 this year – and it isn’t because the UK doesn’t have 50 leasing companies.

The biggest reason is the absence of Holman and Fraikin who, for different reasons, have declined to participate in the list this year.

The biggest reason is the absence of Holman and Fraikin who, for different reasons, have declined to participate in the list this year.