Silverstone Leasing was pleased to welcome Sarah Bool MP to its Northamptonshire offices on Friday 13 November, as part of the British Vehicle Rental and Leasing Association's (BVRLA) Industry Champions programme.
The visit gave Sarah the opportunity to meet the team, learn more about the family-run business and discuss some of the key issues currently affecting the vehicle leasing industry, its customers and smaller businesses across the UK.
Established in 2012 and based in Preston Deanery, Northampton, Silverstone Leasing provides vehicle leasing solutions to businesses and individuals across the country, alongside its sister brand, Embrace Leasing.
Giving the Vehicle Leasing Industry a Voice
The visit was organised through the BVRLA's Industry Champions programme, which encourages closer engagement between MPs and businesses working in the vehicle rental, leasing and fleet sectors.
The programme aims to give policymakers a better understanding of the industry's contribution to the UK economy, while allowing businesses to raise concerns about legislation, taxation and the challenges facing their customers.
For Silverstone Leasing, the visit provided a valuable opportunity to explain how decisions made in Westminster directly affect independent leasing brokers, local employers and motorists.
Discussing the Future of Electric Vehicles
One of the main topics discussed during the visit was the ongoing transition towards electric vehicles.
While demand for electric cars continues to play an important role in the leasing market, there are concerns about how future taxation and changes in Government policy could affect customer confidence.
Discussions included the proposed introduction of electric Vehicle Excise Duty (eVED), a mileage-based charge for electric vehicles, and the potential impact this could have on drivers considering the switch to electric.
Company car taxation and salary sacrifice schemes were also discussed, particularly the importance of keeping electric vehicles financially attractive for businesses and employees.
Another key area was the used electric vehicle market. Falling residual values can have a direct impact on the monthly cost of leasing a new vehicle, making it important to support a healthy and sustainable second-hand EV market.
The discussion highlighted the need for long-term certainty and a balanced approach to taxation, ensuring that the transition towards cleaner motoring remains affordable for consumers and businesses alike.
The Challenges Facing Small Businesses
Alongside the automotive industry, the meeting also provided an opportunity to discuss the wider pressures facing smaller employers.
As a family-run business, Silverstone Leasing understands the challenges associated with rising employment costs, increasing operational expenses and maintaining a strong team while continuing to grow.
The impact of changes to the National Minimum Wage and employer costs was discussed, including the importance of recognising how these increases affect businesses employing both new starters and experienced staff.
These are issues faced by many independent businesses across Northamptonshire and the wider UK.
An Opportunity to Be Heard
Scott Norville, Managing Director of Silverstone Leasing, said:
"It was great to welcome Sarah to our offices and have the opportunity to talk openly about what's happening in our industry.
Having started Silverstone Leasing back in 2012, I've seen plenty of changes in the market, but the transition to electric vehicles and the increasing costs facing businesses are particularly important issues at the moment.
We speak to customers every day, so we get to see first-hand how changes in taxation, vehicle prices and Government policy affect their decisions.
As a smaller, family-run business, having the opportunity to sit down with our local MP, share our experiences and explain some of the challenges we're facing is really valuable.
I'd like to thank Sarah for taking the time to visit us, listen to our concerns and meet the team. I'd also like to thank the BVRLA for arranging the visit and for the continued work they do representing our industry."
Supporting the BVRLA's Industry Champions Programme
Silverstone Leasing is a proud member of the BVRLA and supports its work in representing the interests of the vehicle leasing and rental sector.
Through initiatives such as Industry Champions, the BVRLA helps ensure that businesses of all sizes have an opportunity to engage with policymakers and contribute to discussions that could shape the future of UK motoring.
Silverstone Leasing would particularly like to thank Lizzy Zisman and Rachael Hewish from the BVRLA for their support in organising the visit.
The company also extends its thanks to Sarah Bool MP for taking the time to meet the team and discuss the issues affecting local businesses and the wider automotive sector.
