According to the firm, the move to four and even five-year replacements prompted by tough economic conditions have seen leasing companies develop a whole range of new SMR buying skills and techniques.

Ken Trinder, head of business development at epyx, said: 'The difference in SMR buying between three years ago and today is enormous. Vehicle leasing companies have raised their game by a huge margin, almost entirely because of the recession-driven trend towards replacement cycle extensions.

'When vehicles were almost all run on three-year cycles and had three-year warranties, there was a limited need for SMR expertise. However, because four and five year old vehicles that have reached a point in their life where major component failure is likely are now common on leasing company fleets, the demands on management have increased massively.'
 
Mr Trinder said that analysis of the epyx 1link Service Network service and maintenance e-commerce platform shows that leasing companies are being much more proactive in their management of service and maintenance costs.
 
He explained: 'While leasing company spending on SMR has increased because of the ageing vehicle parc, the level of control they have achieved on an individual supplier-by-supplier basis is remarkable for its thoroughness and effectiveness. We expect that many will drive down their SMR bill further still over the next few years.'