![\"vanrental.co.uk](\"https:\/\/www.vanrental.co.uk\/vanblog\/wp-content\/uploads\/2012\/10\/x-long-2-e1377512355897.jpg\")
According to a new report from the British Vehicle Rental and Leasing\u00a0Association (BVRLA), the impact of the vehicle rental and leasing sector\u00a0\u00a0on the UK economy was around \u00a325bn in 2013, including \u00a35.2bn in tax revenue.<\/p>\n
The report, which was commissioned by the BVRLA from research foundation Oxford economics, measures three types of economic impact:<\/p>\n
The scale of the rental\u00a0and leasing industry in the UK becomes clear when you consider that in 2013,\u00a0BVRLA members had 3 million vehicles on lease and 400,000 vehicles available for rental.<\/p>\n
The main areas of direct and indirect economic activity are the\u00a0businesses involved in the industry itself, manufacturers of UK-made vehicles<\/a> and engines, the used car and van market<\/a>, and the\u00a0activity of the UK automotive dealers which supply rental companies.<\/p>\n The report estimates that the rental and leasing industry itself employs 53,600 people directly and 263,400 indirectly, through the\u00a0wider supply chain and through\u00a0consumer spending.<\/p>\n If accurate, this claim is quite impressive, as it means that the rental and leasing industry accounts for the employment of 1 in every 88 workers in the UK!<\/p>\n A sizeable part of the industry’s contribution to the economy comes via its purchase of\u00a0British-built vehicles, along with foreign vehicles with British-built engines.\u00a0Rental and leasing companies are amongst the biggest buyers of new vehicles each year, and purchased an estimated 308,000 UK-made vehicles in 2013,\u00a0which is thought to have generated \u00a34.3bn in\u00a0GDP and \u00a31.4bn in\u00a0tax revenue, as well as 90,000 jobs.<\/p>\n Overall, the industry purchased 80% of the British-made vehicles that were sold in the UK last year, and\u00a020% of all British-built vehicles, including vehicles made for export.<\/p>\n A great many people, it seems: one of the reasons the\u00a0leasing and\u00a0rental industry has such a big impact on the UK economiy is that so many other businesses are dependent on its services. As a result, the sector’s gross value added (the sector’s contribution to the UK’s GDP) of \u00a313.3bn was comparable to that of the electricty generation and distribution indsutry in 2013, which had a gross value added of around \u00a318bn.<\/p>\n This\u00a0kind of illustrates my point — virtually 100% of UK businesses require electricity, so the electricty generation and\u00a0distribution sector is going to have a big\u00a0impact on GDP, rather like the leasing and rental sector.<\/p>\n However, before we get too carried away, it’s\u00a0worth rembering that even the BVRLA’s \u00a325bn headline figure is just a drop in the ocean in the scheme of things, and accounted for just 1.6% of UK GDP\u00a0in 2013, when UK GDP totalled \u00a31,606bn!<\/p>\n","protected":false},"excerpt":{"rendered":" The UK vehicle rental and leasing industry added \u00a325bn impact to UK GDP last year and purchased 80% of UK-made vehicles.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[7],"tags":[1678,1431],"_links":{"self":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6904"}],"collection":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/comments?post=6904"}],"version-history":[{"count":2,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6904\/revisions"}],"predecessor-version":[{"id":6906,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/posts\/6904\/revisions\/6906"}],"wp:attachment":[{"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/media?parent=6904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/categories?post=6904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vanrental.co.uk\/vanblog\/wp-json\/wp\/v2\/tags?post=6904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}It’s a people business<\/h3>\n
Vehicle supply<\/h3>\n
Who needs vehicle rental and leasing?<\/h3>\n
Putting it in perspective<\/h3>\n