THE leasing broker fleet has grown by 2.7% this year to reach its highest level ever, according to the latest figures from the BVRLA.
Surpassing 400,000 vehicles for the first time, the BVRLA’s broker channel fleet remains at a healthy level in the face of extensive supply challenges.
The prolonged supply challenges are still presenting an extreme barrier to brokers in meeting their customers’ needs, although the impact has plateaued having peaked in March 2022, the association reports.
This performance formed the backdrop of the BVRLA’s annual Leasing Broker Conference, which took place in London on Thursday 06 October at the Royal Institute of British Architects.
With over 150 attendees from leasing brokers, leasing funders and industry suppliers, the conference covered the key factors having an impact on the sector’s performance. The agenda also explored what is on the horizon for leasing brokers, most notably the incoming Consumer Duty and prevalence of the agency model for vehicle supply.
Paul Parkinson, chief executive & founder of Synergy Car Leasing and chair of the BVRLA’s Leasing Broker Committee who hosted the event, said:
It is brilliant to once again bring so many broker colleagues together. This conference gives us the chance to reconnect and discuss the issues that are having a fundamental impact on all of us.
Paul added that leasing brokers had shown deep resilience over the last few years, dealing with Brexit, Covid, a vehicle supply crisis and more.
To see the fleet reach record levels is encouraging and evidence of how well the sector has evolved. I’m confident that the expert speakers have given attendees food for thought to prepare us all for the challenges ahead.
Among the guest speakers were two excellent presentations from the entertaining Nita Clarke OBE (above) on employee engagement who told delegates:
Keeping staff is an absolute priority like it hasn't been before. Keep the staff that you have trained and value. An engaged culture helps in turnover and retention.
And from the engaging Dr Brian Hilliard (above), chief UK economist with Societe General, entitled Truss drops the poisoned chalice – markets quickly chasten the new government. He warned that financing costs would remain high – “There’s a more hostile environment around financing,” he said – adding that he expected Bank of England rates to peak at 5.5%.
The BVRLA Leasing Broker Conference took place on 06 October at the Royal Institute of British Architects in London.
Broker funder Alphabet was the lead sponsor, along with broker funder Leasys, plus Ebbon Group, MotorLease, QV Systems and Trakm8.
Broker News was the media partner of the event.
Photos: BVRLA.
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
