Vans set to power daily rental recovery as volumes hit 60% of pre-lockdown levels
Vans look set to power the recovery in daily rental, we’re predicting at epyx, with overall volumes on our 1link Hire Network platform now hitting 60% of pre-lockdown levels.
Tim Meadows, Vice President and Commercial Director, said: “At first glance, reaching 60% may not necessarily sound like a recovery but, during the quietest parts of lockdown, demand was extremely low with only essential services fleets taking vehicles, so we are viewing this as a definite and marked turnaround.
“Volumes certainly appear to be picking up and solidifying, a trend that is being powered almost entirely by vans and other light commercial vehicles as the economy moves into the ‘new normal.’
“Most of the demand now being seen is coming from the types of businesses that have proven countercyclical during the coronavirus crisis, such as home delivery and pharmaceuticals. Rental-wise, these businesses are leading the way out of lockdown.”
However, Tim said that rentals from other sectors also appeared to be gradually emerging as businesses restarted normal activities.
“The picture is, as you would expect, very patchy, but we are beginning to see van rentals from other companies as they return to work and as increasing numbers of staff are unfurloughed.
“Our feeling is that we do not necessarily expect to see an unbroken upwards line in rental volumes over the rest of 2020. It is possible, even probable, that there are some hiccoughs along the way, especially if there are disruptive factors such as more local lockdowns of the kind now being seen in Leicester. However, we are confident that there will be a gradual underlying recovery.”
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