Every year, Fleet News releases the FN50, a list of the 50 largest leasing companies and the number of vehicles they fund.
Except this year, something special has happened. The total number of vehicles across all the firms on the list has exceeded 1.5 million for the first time. This year’s figure of 1,564,501 surpasses the previous record of 1,494,460 that was achieved in 2008, before the recession hit. It’s made up of 1,201,943 cars and 362,558 vans.
To some extent, this is no surprise. As our graph below shows, the last few years have been ones of continuous growth for the leasing industry. But this year’s growth is especially strong. The 1,564,501 total is 11.2 per cent higher than last year’s 1,407,188.
We at Hitachi Capital Vehicle Solutions have played our part in this success story. Our own fleet size has expanded by nearly 5,000 in the last two years, to a total of 51,420. We’re proud to be in the top ten of the FN50.
And what next? Other signs point towards continued growth for fleets. The SMMT’s monthly registration statistics, which we track on this blog, show that 1,372,569 new cars were bought for fleets in the year to this September.
This is another record: the highest 12-month total ever. The whole fleet industry should feel heartened.