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Vehicle Leasing and Hire
Key Note Publications Ltd - 11/1/1998 - 70 Pages - ID: KEYL434308
URL: http://www.marketresearch.com/product/display.asp?productid=434308

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Abstract

The vehicle rental and leasing market in the UK was estimated to be worth around £13bn in 1997. It has experienced several years of growth on the back of a strengthening domestic economy and the increasing popularity of outsourcing. The overwhelming majority of the market — 87% — consists of long-term rental, predominantly leasing. Cars account for 86.2% of the long-term rental fleet and 77.2% of the short-term fleet in 1998. In total, there were 2.2 million vehicles in the UK's leasing and rental fleet in 1998, an increase of 10.3% on 1997.

The long-term vehicle rental market is much more complex than the short-term market. Long-term vehicle hire can involve one, or a combination, of several different types of financing arrangements (possibly involving the transfer of legal ownership), whereas short-term rental is generally a standard day-by-day type agreement.

A defining characteristic of the vehicle leasing and rental industry is that it is highly fragmented. The majority of firms represented by the industry's main trade body, the British Vehicle Rental & Leasing Association (BVRLA), are small — in 1997, 82.6% of the association's members had fleets of less than 100 vehicles. This plethora of small, local businesses has made the industry extremely price competitive and tended to depress margins, especially in the short-term market. Another significant weakness for the industry is that it remains heavily exposed to possible changes in the structure of both personal and corporate taxation. In this regard, the industry remains extremely concerned about the future direction of transport strategy under the Labour Government.

The outlook for the sector is uncertain. With evidence of economic recession gathering strength, falling industrial confidence and profitability will undoubtedly reduce spending on cars by the corporate sector. In the short-term rental market, activity has been hit by the strength of sterling, which has depressed visitor numbers to the UK. More positively, the exit of vehicle manufacturers from the leasing and hire market should reduce competition in the industry. Moreover, the long-term vehicle leasing sector should benefit from the continued trend towards outsourcing. Indeed, this trend may itself accelerate during a period of economic downturn as companies are forced to focus on cost-cutting. The number of vehicles in the UK rental fleet is forecast to increase to 2.9 million by the year 2002.

 
 

Table of Contents
Executive Summary

1. Market Definition

  • Introduction
  • Market Sectors
  • Market Position
  • Table 1: Vehicle Rental Fleet As Part Of The Total Uk Vehicle Parc (000 Units), 1993-1997
  • Market Trends
  • Overall Market Trends
  • 1994-1998
  • Long-Term Rental Fleet
  • Table 3: Analysis Of The Uk Long-Term Rental Fleet By Type Of Vehicle (000 Units), 1994-1998
  • Short-Term Rental Fleet
  • Table 4: Analysis Of The Uk Short-Term Rental Fleet By Type Of Vehicle (000 Units), 1994-1998
  • Short-Term Rental Pricing Issues
  • Summary

2. Market Size

  • Total Market
  • 1994-1998
  • Long-Term Rental
  • By Service Type
  • 1994-1998
  • Contract Hire
  • Table 7: Bvrla's Members' Contract Hire Agreements By Type Of Vehicle (000 Units And %), 1997 And 1998
  • Finance Lease
  • Table 8: Bvrla's Members' Finance Leases By Type Of Vehicle (000 Units And %), 1997 And 1998
  • Contract Purchase
  • Table 9: Bvrla Members' Contract Purchase Agreements By Type Of Vehicle (000 Units And %), 1997 And 1998
  • Fleet Management
  • Table 10: Bvrla's Members' Vehicles Under Fleet Management Agreements By Type Of Vehicle (000 Units And %), 1997 And 1998
  • By Duration
  • Table 11: Average Duration Of Long-Term Vehicle Rental (Months), 1993-1997
  • Short-Term Rental
  • By Vehicle Classification
  • Table 12: Bvrla Members' Short-Term Rental Fleet By Vehicle Classification (000), 1994-1998
  • Cars
  • Commercial Vehicles
  • By Duration
  • Table 13: Average Duration Of Short-Term Car And Van Rental (Days), 1993-1997
  • Perspective

3. Industry Background

  • Recent History
  • Industry Concentration
  • 1996 And 1997
  • Distribution
  • Trade Associations
  • British Vehicle Rental & Leasing Association
  • Association

4. Competitor Analysis

  • The Marketplace
  • Market Leaders
  • Long-Term Rental
  • Table 15: Selected Major Companies In The Uk Long-Term Vehicle Leasing Market (£M), 1996/1997
  • Solutions Ltd
  • Financial Results
  • Acl Ltd
  • Financial Results
  • Services Ltd
  • Financial Results
  • Lease Plan Uk Ltd
  • Financial Results
  • (Holdings) Ltd
  • Financial Results
  • Cendant Business Answers (Europe) Plc
  • Financial Results
  • Services (Uk) Ltd
  • Financial Results
  • Short-Term Rental
  • Table 16: Selected Major Companies In The Uk Short-Term Vehicle Rental Market (£M), 1996/1997
  • Alamo Rent-A-Car (Uk) Ltd
  • Financial Results
  • Avis Europe Plc
  • Financial Results
  • Europcar Uk Ltd
  • Financial Results
  • Goode Durrant Plc
  • Financial Results
  • Hertz (Uk) Ltd
  • Financial Results
  • National Car Rental Ltd
  • Financial Results
  • Advertising And Promotion
  • 1996-1998
  • Threats
  • Short-Term Rental
  • Long-Term Rental

6. Buying Behaviour

  • Segmentation
  • Long-Term Rental
  • (% Of Revenue), 1998
  • Short-Term Rental
  • Table 19: Estimated Customer Segmentation Of The Short-Term Vehicle Rental Sector (% Of Revenue), 1998
  • 1994-1998
  • Car Hire Penetration
  • Table 21: Penetration Of Car Hire (Self-Drive) Customers (%), 1996 And 1997
  • Table 22: Frequency Of Self-Drive Car Hire (%), 1997
  • To The Industry
  • Long-Term Rental Market
  • Table 23 : Breakdown Of The Long-Term Rental Fleet By Make Of Vehicle (%), 1997
  • Short-Term Rental Market
  • Table 24: Breakdown Of The Short-Term Rental Fleet By Make Of Vehicle (%), 1997

8. Current Issues

  • Environmental Issues
  • Residual Value
  • Information Technology
  • Corporate Activity
  • Holiday Autos/Thomson
  • Ministry Of Defence
  • Thrifty Car Rental
  • Rental And Contract Hire

9. Forecasts

  • Introduction
  • Long-Term Rental Market
  • Short-Term Rental Market
  • Forecasts 1998 To 2002
  • (000 Units), 1999-2002

10. Company Profiles

  • Introduction
  • Definitions
  • Further Information
  • Alamo Rent-A-Car (Uk) Ltd
  • Arriva Plc
  • Services Ltd
  • Hertz (Uk) Ltd
  • (Holdings) Ltd
  • National Car Rental Ltd

11. Further Sources

  • Associations
  • Periodicals
  • Directories
  • General Sources
  • Hbi Uk Information Sources
  • Government Publications
  • Other Sources
  • Understanding Tgi Data
  • Number, Profile, Penetration
  • Social Grade
  • Standard Region
  • Key Note Research Of Reports

 

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 Market Definition (pp. 11 - 20)  $71.00
 Market Size (pp. 21 - 32)  $69.00
 Industry Background (pp. 33 - 38)  $48.00
 Competitor Analysis (pp. 39 - 50)  $81.00
 Strengths, Weaknesses, Opportunities and Threats (SWOT) (pp. 51 - 54)  $48.00
 Buying Behaviour (pp. 55 - 60)  $48.00
 Outside Suppliers to the Industry (pp. 61 - 64)  $48.00
 Current Issues (pp. 65 - 69)  $48.00
 Forecasts (pp. 70 - 74)  $48.00
 Company Profiles (pp. 75 - 82)  $48.00
 Further Sources (pp. 83 - 99)  $104.00