The growing popularity of shared mobility and vehicle rental is highlighted in a new report from the British Vehicle Rental and Leasing Association (BVRLA).
Comprising of 55 pages, the Car and Van Rental in the UK report is a comprehensive research project into vehicle rental, through six separate research projects undertaken last year.
These included a survey of 4,500 customers, senior executive interviews, detailed analysis of the economic impact and sustainability credentials of the rental sector, a market-sizing omnibus study, and an operators’ study.
The research has revealed that vehicle rental is popular, and the options that businesses would use include alternatively-fuelled vehicles.
Although the number of people using pure electric vehicles is low, almost two thirds of respondents would take advantage of the price was comparable to other vehicles.
This, coupled with a fall in diesel vehicle rentals, as well as the growing number of alternatively-fuelled vehicles, also highlights how the industry is working towards achieving greener targets too, improving air quality at the same time.
Shared mobility is on the rise too, with 6% of respondents having used a car club; although this level seems low, but this is eight times higher than the national average.
In terms of business renters, more than 50% believe that hiring a vehicle has advantages over a business fleet.
BVRLA’s report also focuses on new developments such as Mobility-as-a-Service (MaaS), which again ensures a cleaner environment.
Vehicle rental is important for the UK economy too; according to the report’s findings, the industry contributes £8.8 billion to GDP, and purchases 13% of vehicles assembled in the UK and sold to domestic customers.
By pumping in almost £2 billion in tax, the industry generates enough tax to pay for more than 25,000 doctors.
BVRLA’s Chief Executive, Gerry Kearney, said: “Whether you need a picture of the vital role that the rental sector plays in daily life, or want to understand how the market is adapting to new technology and business models, this report is a must-read.”