Business Leasing and Salary Sacrifice Fuel Growth Amidst Market Uncertainty

Despite a challenging economic climate, the UK vehicle leasing sector is experiencing growth driven by business contract hire and salary sacrifice schemes, according to the BVRLA’s latest Leasing Outlook Report. While consumer confidence wavers, leading to a decline in personal contract hire, businesses are maintaining their renewal cycles, supported by sustainability goals. The report highlights significant growth in both business contract hire for cars and salary sacrifice arrangements, which have nearly doubled year-on-year. This resilience underscores the sector’s adaptability in navigating market uncertainties, though challenges remain in securing new business and addressing volatility in the used electric vehicle market.

Sources

• Business leasing and sal-sac drive growth in highly uncertain market, Fleet World.