BVRLA reports van leasing fall in 2024

This contrasts with the rest of the leasing sector, which reported growth of 0.65% overall and the car leasing segment which grew by 4.9% during the same period.

The change comes as budgetary constraints and economic uncertainty affected different market segments in varying ways.

Toby Poston, BVRLA chief executive, said: “Local and global economic uncertainty is causing many customers to hold fire but there remain pockets of optimism. To see the leasing fleet grow in such challenging conditions is positive, but the gaps between segments are widening. It is no surprise to see the segments performing well are where they have suitable support in place.

“Business customers have a greater ability to absorb short-term fluctuations, while also benefiting from targeted government incentives to drive the uptake of electric cars.

“Financial incentives are the biggest lever to alter action and the recent changes to the ZEV Mandate will influence their necessity. Personal customers and van operators desperately need increased attention and we remain committed to making their voices heard where it can make a difference.”

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