Rental boom is over
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• There were dramatic increases in the volume of commercial vehicle rental and leasing deals last year, according to the British Vehicle Rental and Leasing Association.
In its 1989 survey of market trends, the BVRLA records a 50.29k increase in CV and trailer contract hire and leasing agreements, involving 45,241 units.
"The very high growth. . . probably reflects the high level of commercial vehicle demand in the early part of the year," says the BVRLA, ''coupled with high interest rates restricting borrowing for outright purchase and channeling demand into contract hire and finance leasing."
Truck trailer rental increased during the year by 42.2%. Selfdrive van hire business increased too, but only by 6.7%. Currently CV rental is slack.
The survey shows that the domination of the CV rental sector by Ford and Iveco Ford diminished last year, accounting for 70,796 vehicles in the UK rental pare in 1989. This was up from 56,266 in 1988, but represents a drop in market share from 43.3% to 38.2%.
Leyland Dafs share of the rental market also fell last year, from 12.1% to 11.9%, despite an increase of over 6,300 in the number of its vehicles in the rental parc.
General Motors and Renault both increased their share, to 9.5% and 5.8% respectively, in a total CV rental parc of 185,559 units last year.