THE leasing broker fleet is larger than the biggest leasing company in the FN50.
With a fleet of 403,780 cars and vans on contract, the BVRLA leasing broker fleet would top the FN50 by some margin, placing Lex Autolease second in the annual table with just 274,107 vehicles on its fleet.
It’s a significant demonstration of how influential leasing brokers are becoming in the automotive fleet and leasing industry.
Broker News was at the FN50 and spoke to Paul Parkinson, CEO and founder of Synergy Car Leasing and chair of the BVRLA Leasing Broker Committee (right), after the reveal:
I think it will surprise many that the BVRLA leasing brokers are such significant contributors to the overall fleet market. Offering sector leading service and a major route to market for the main players in the FN50 table. We are aware that in some cases 50% of total new fleet additions are delivered through the leaseco broker channels.
Paul points to the latest BVRLA broker survey which revealed that in H1 2022, the BVRLA broker fleet grew by 2.7% compared with H1 2021, reaching a record 403,780 vehicles. Of this number, cars contributed 302,546 to the total and vans 101,234 units.
He added:
If you want to look at it another way, the FN50 fleet total is 1,710,658. If the leasing broker fleet is 403,780 vehicles, then brokers contributed 23.6% of the total volume. That’s virtually a quarter of all volume.
Paul continued that it was no coincidence that leasing brokers contributed fleet volume to 13 of the top 20 in the FN50 and eight of the top 10 leasing companies. It’s also unrecorded how much volume brokers contributed to captive funders.
Brokers also contributed to the the list of the FN50, Bridle Group dropping from 34th last year to 36th in the overall table, but increasing funded volumes from 2825 to 2969 units.
It’s probable that more brokers will appear in next year’s FN50 with an increasing number taking vehicles on risk.
Another perspective on the importance of the broker channel is that the broker fleet would still be top of the FN50 once the ALD/LeasePlan merger goes ahead, which would make ‘New ALD’ the biggest leasco with a fleet of 319,446 vehicles – but still 84,334 units below the current broker fleet.
The FN 50 Top 10 2022
1 Lex Autolease
2 Volkswagen Financial Services | Fleet
3 Arval UK
4 LeasePlan UK
5 ALD Automotive
6 Alphabet (GB)
7 Novuna Vehicle Solutions
8 Zenith
9 Free2move Lease
10 Santander Consumer UK
274,107
197,826
185,537
176,945
144,501
132,690
86,406
66,536
54,480
53,798
Source: FN50
Broker News Newsletter 30 April 2024
Catch up on the latest leasing broker news in the 30 April 2024 Broker News newsletter
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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.
