The BVRLA has set up two working groups to encourage sharing of best practice among leasing and rental members and to ensure greater protection against the possible collapse of a major manufacturer.

Under its leasing and fleet management committee, the BVRLA is working on a contingency plan in case a manufacturer exits the market.

It is looking to create initiatives that can easily be enacted if necessary, considering everything from technical partners to parts supply.

With concerns growing about the future of LDV and Saab, the BVRLA’s decision to set up the working party is timely.

Meanwhile the BVRLA’s residual values and remarketing forum met for the first time two months ago with the aim of providing the platform for the sharing of best practice and knowledge among members, auction houses, pricing guides and other relevant suppliers.

Around 70 companies attending the first meeting; the next get-together will be at the end of May/early June.

“It gives people the opportunity to recognise the information that is available and how it is used. It will improve the position across our members’ businesses,” said John Lewis, BVRLA chief executive.

The BVRLA believes its members need to widen their sources of funding and it has been in talks with banks like HSBC and Barclays that do not supply much finance into the sector.

“We want them to understand the positive reason why they should be in - good return on investment over longer periods,” said Lewis.

He is also close to signing up one of the big four accountancy groups on a syndicated funds project. The concept is to link with a company that could form an administration centre to bring in more funds. An agreement is expected within a couple of months.

“We have to spread funding more – as an industry we are too focused on a handful of providers,” said Lewis.