THE continuing popularity of PCH has increased the number of contracts written by brokers during H1 2019.
Latest statistics from the BVRLA show that total number of vehicles on contract at end June 2019 was 338,111 – an increase of 35,699 year on year, representing 12% growth year-on-year.
Regulated PCH accounted for 23% of this additional growth, while non-regulated BCH on vans added 16%.
Vans quietly gaining leasing share
While car PCH continues to be the big story in the leasing broker growth story, van leasing is beginning to make real headway.
There were 29,269 new van contracts underwritten during July 2018-July 2019, which is 1500 more than the total number of new van contracts during all of 2018.
Other key points of note from the BVRLA leasing broker stats
- Cars: 57% of the BVRLA broker vehicles on contract and 65% of new contracts are PCH. PCH grew by 23% year on year.
- Cars: 38% of the BVRLA broker vehicles on contract are business contract hire, and 33% new contracts are business contract hire. BCH grew by 1% year on year.
- Vans: 64% of the BVRLA broker vehicles on contract, and 71% of new contracts are BCH. BCH grew by 16% year on year.
- Vans: 29% of the BVRLA broker vehicles on contract are finance leases. Finance leases grew by 1% year on year to increase total share to 23% up from 21% the previous year. BCH held steady at 71%.
Maintenance and contract hire
The BVRLA stats also reveal that maintenance agreements have been written on 43% of the vehicles on contract. Interestingly, PCH has been the driver, rising from 26% in 2017 to 28% in 2018, and being maintained at 28% in 2019.
In contrast, there are fewer maintained contracts being written on BCH, down to 48% in 2019 from 50% in 2017.
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.
