Rentals expecting a summer surge
Brexit could spell good news for the vehicle renting and leasing industry in the UK.
With many Brits expected to opt for a staycation as a result of the vote to leave the EU, the British Vehicle Rental and Leasing Association (BVRLA) is expecting a surge in business.
Gerry Keaney, chief executive of the BVRLA, said, ‘We predict a surge in demand for rentals as people take mini-breaks in the UK due to the weak pound. In a further boost, the current exchange rate will also attract overseas visitors which can be expected to increase rental demand.’
Its research found that there were 10.9 million car rental transactions by UK residents in 2015, while 18 per cent of UK adults have rented a car in the UK and 13 per cent have rented overseas. Of these, 63 per cent said flexibility and convenience were the main reasons for renting.
Gerry added, ‘We urge holidaymakers to look out for the BVRLA logo when renting a car in the UK. Consumers who hire from a BVRLA member will have the peace of mind that the rental company offers high quality vehicles, adheres to a rigorous code of conduct and offers a dispute resolution service for further protection.’