Vehicle finance will be easier to come by in 2011 according to the British Vehicle Rental and Leasing Association (BVRLA), which predicts backers will plough funds in to the vehicle leasing market.
The BVRLA also predicts a bumper year for CVs with vans highlighted as a key area of growth.
John Lewis, the BVRLA's chief executive, says: "Our members forecast a continuing growth in demand for CV rental and leasing in 2011, particularly for vans. As the latest truck and van sales figures show, many of them are investing in new vehicles and there is no danger of the market not having enough capacity."
He continues: "The recovery will be a largely credit-less one, with smaller businesses in particular struggling to meet their borrowing requirements. However, I am confident our members will provide the vehicle finance to ensure this economic growth can continue."
Lewis also predicts that green vehicles will play a more important role in the leasing market.
"Environmentally friendly vehicles will continue to attract a lot of interest, we expect our members to take on hundreds of electric and plug-in hybrid vehicles this year, mainly for public sector clients. The experience gained managing these assets over the next few years will be invaluable when these vehicles finally start to hit mainstream fleet usage, towards the middle of the decade," he adds.
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