This study, commissioned by the BVRLA, the trade body for the vehicle rental and leasing sector, investigates the economic contribution the full-service leasing and rental sector makes to the UK economy. In 2013, the sector owned some 3.6 million vehicles (cars, light commercial and HGVs). This was over 10% of the vehicles on the UK’s roads that year. Of these, some 11 vehicles in every 100 were leased, with a further two rented.
In 2013, the sector supported a £24.9 billion gross value added of the individual impacts of the operations of the industry itself, the UK-made vehicles it purchases, the use of UK made engines, the activity in dealerships, and its impact on the used-car market. This is equivalent to the size of the economies of Edinburgh and Leicester combined.
The sector is estimated to support 317,000 people in employment in 2013. To place this in context, in the same year there were 270,000 people employed in the city of Sheffield. By supporting economic activity and employment the sector raised tax receipts for the Exchequer. In 2013, these receipts amounted to £81 for every UK resident, or some £5.2 billion in total.
Click here to read the full report.
Oxford Economics’ team is expert at applying advanced economic tools that provide valuable insights into today’s most pressing business, financial, and policy issues.
To find out more about our capabilities, contact:
+1 (646) 503 3052
+65 6850 0110
+44 (0)203 910 8054
Energy Transitions in Western and Central Africa: A focus on Nigeria, Ghana, Senegal, Equatorial Guinea and Mauritania
The global energy transition involves the sustained displacement of fossil fuels by renewable energy and complementary technologies to reduce carbon intensity. It is, however, imperative to consider such shifts within the distinct developmental contexts of countries to ensure energy transitions are socially inclusive and just. This latest report by our Africa consulting team examines how energy transitions are likely to unfold in Nigeria, Ghana, Senegal, Equatorial Guinea, and Mauritania.Find Out More
Becoming More Efficient – How finance and IT are leading the way
Oxford Economics and SAP Concur surveyed 1,000 finance and IT executives about how they are making their functions more efficient.Find Out More
Delivering Economic Value – DoorDash 2021 US Economic Impact Report
A US study demonstrating how DoorDash empowers local economies by creating and supporting impact across the three sides of their marketplace–Dashers, merchants and consumers.Find Out More