Last year, corporate contract hire car volumes grew by 15% to 73,140, but this notable growth was eclipsed by the impressive performance of personal contract hire, where volumes grew 39% to 35,242 cars.

For commercial vehicles, van leasing volumes rose 19% to 42,739 units, driven by growth in contract hire (+14%) and finance lease (+27%) products.

Consumers and businesses are driving this broad-based growth. The UK’s small- and medium-sized enterprises are enjoying economic certainty, and have the confidence to add vehicles to their fleets. But at the same time, these shrewd small fleet operators are keen to shop around to ensure they receive the best deal.

At the last Leasing Broker Committee meeting, we discussed what needs to happen to sustain this growth. Chief among our discussions was maintaining and demonstrating FCA compliance. To this end, members will now be regularly audited by the BVRLA to demonstrate their compliance.

The BVRLA’s Leasing Broker members will also have to adhere to a sector-specific Code of Conduct which will be backed by a new governance regime.

The leasing broker sector is going from strength to strength and has a lot to be proud of.

Mike Potter is chairman of the BVRLA Leasing Broker Committee, and MD of FleetDrive Management