strong future trading prospects in the vehicle rental market are a
reality, after its light commercial vehicle rental business,
Potential Vehicle Hire reported significant growth over the last
six months.
Furthermore, the hire purchase and leasing company announced
that loan advances at its vehicle and asset finance brokerage
division, Potential Asset Finance, increased by 60 per cent
year-on-year.
The brokerage business placed £1m in March 2008.
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The company said in a statement: “With the trend continuing to
move towards vehicle ‘usership’ rather than ownership, we believe
that the UK is following the U.S. model, where around one third of
commercial vehicles are rented.
“Our target market is a substantial one, with around three million
UK users in total, 90 percent of whom currently purchase their
vehicles.”
This compares to the vehicle rental market, which is growing at
about four per cent a year.
