The production in the UK renting and leasing of motor vehicles sector in 2023 stood at approximately 20.5 billion pounds sterling. From 2024 onwards, a steady growth is projected with values reaching 23.22 billion pounds by 2028. Year-on-year growth rates from 2024 to 2028 showcase a consistent increase of around 2.5% to 2.7% annually. The forecasted compound annual growth rate (CAGR) for this five-year period is approximately 2.5%, indicating a stable upward trend in the market.

Future trends to watch for include:

The impact of technological advancements such as electric and autonomous vehicles on the leasing market.
Regulatory changes influencing the adoption of green vehicles.
Economic factors such as inflation and interest rates affecting consumer demand and business operations.
Potential shifts in consumer behavior towards short-term leasing models or subscription services.