/ I gather from Clive Shelock of the British Vehicle
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Rental and Leasing Association (BVRLA) that its membership is somewhat browned-off with the DTp's decision to alter the date when the vehicle age identity letter changes from August, as at present, to October in 1987.
There are several reasons for this, it would seem, among them BVRLA's suggestion that it will result in a massive increase in the number of secondhand vehicles being released on the market at a time when winter is approaching and when many rental companies traditionally dispose of their very substantial fleets of cars and vans.
According to Sherlock, the BVRLA has been making noises to the Dip suggesting that the industry's (the rental industry, that is) preferred position is to have no annual change of identification letter at all, but that if there has to be a change, then it should be moved to an earlier month in the year.
With an anticipated 900,000 rented or leased vehicles involved, the Association's view is that if the date change is implemented as proposed, it will have a disastrous effect on residual values and could result in a reduction in the size of the overall market, especially next year.
Understandably, the BVRLA is urging the Government to reconsider its decision, and is planning to lobby Ministers, civil servants, MPs, and start a public relations campaign to let the general public know of the likely impact of the existing proposals on used car values.