Average contract hire lengths are growing yet vehicles are being driven less as companies look at ways to save money from their fleet operations.

Exclusive Fleet News analysis of several of the country’s leading contract hire and leasing companies has found that the average replacement cycle for vehicles on contract hire is now 37.4 months.

This compares to 36.9 months one year ago and 35.9 months five years ago.

Contract extensions and moving to longer replacement cycles have become prevalent since the economic downturn, with fleets looking to extract maximum value from their vehicles at a time of business uncertainty and staff redundancies.

  • For the full article, see the August 27th issue of Fleet News. Order a copy by calling Caroline Brown on 01733 468659