The North West-based leasing and asset funding specialist has announced a 40% growth in new vehicles leased for the year to October 2013, which it attributes to the strength of the industry as well as its own leasing industry relationships and competitive manufacturer deals.

Mark Anderson, Academy Leasing’s vehicle finance director, said: ‘Firms are increasingly realising the cost benefits of vehicle leasing over fleet purchases.

‘Leasing allows firms to retain fleet flexibility, enabling them to keep pace with the latest developments in vehicle technology, minimising fuel consumption and CO2 emissions to optimise cost efficiencies.’

Academy Leasing, which has reported record half-year results, is now predicting a 38% increase in pre-tax profits of in excess of £1 million for the year to March 2014.