Average CO2 figures for new leased cars in the U.K. showed a sharp fall in the third quarter of 2019 on the back of a surge in battery electric vehicle (BEV) registrations, according to the British Vehicle Rental and Leasing Association (BVRLA).
The BVRLA’s Q3 2019 Quarterly Leasing Survey has average CO2 for all new leased cars at 116.8g/km, down from 118.5g/km in the previous quarter. The fall has been caused by a dramatic rise in new BEV registrations, which are now responsible for 1.6% of all new lease cars. This has offset the upward CO2 pressure caused by the increasing market share of petrol and personal lease vehicles and the inflationary impact of the new WLTP emissions standard in the U.K.
While diesel’s market share has continued to fall, dropping to 38.3% of new registrations, BVRLA analysis shows that petrol’s share has also fallen back very slightly — to 52.8% in the face of the BEV surge.
Elsewhere, the survey provides more evidence of the squeeze on the traditional business fleet leasing market (finance lease and contract hire). The total market shrank to a four-year low of 1.21 million vehicles, with the car portion falling 9% year-on-year and van fleet growth receding to 2.8% compared to the same period in 2018. This decline was partially offset by continued growth in the personal contract hire market, which rose 17% for cars and 2% for vans.