Fleet Services - UK - January 2015
"With technology driving innovation in vehicle manufacture and fleet management tools, leasing companies are having to move quickly to keep pace. Fleet managers are armed with more data and information than ever before, so the demands on leasing operators are expected to increase."
– Ben Harris, Industrial Analyst
The UK fleet services market is a significant component of the broader automotive industry, with fleet and business cars accounting for more than half of new car registrations in the UK.
The market is part of a larger vehicle leasing and short-term rental sector in the UK, which the British Vehicle Rental & Leasing Association (BVRLA) estimates generates approximately £15 billion in annual turnover.
The fleet services market is undergoing a period of change, linked to trends in the wider automotive industry. With technology driving innovation in vehicle manufacture and fleet management tools, leasing companies are having to move quickly to keep pace. Underlying demand conditions are expected to remain strong in 2015, with employment levels expected to rise. Business confidence is currently strong and economic growth is forecast to continue on track. However, as fleet managers are armed with more data and information than ever before, the demands on leasing operators are expected to increase alongside an even greater focus on vehicle efficiency. Those who can best integrate mobile device technology into fleet management solutions and provide more flexible leasing solutions are expected to perform best in the coming years.
For the purposes of this report, the definition of the market encompasses only fleet services provided for passenger cars used either wholly or in part for business purposes. These can be funded and expensed by a company or supported through mileage allowances, soft loans and other forms of payment from the company to the employee.
The two categories included in this report are fleet cars – vehicles used by companies operating a fleet of 25 or more cars, including dealer demonstrators and Motability sales (a government-sponsored leasing operation for disabled people) – and business cars – vehicles operated by small businesses operating between one and 24 cars.
With such a high level of industry fragmentation it is not possible to review all fleet service providers in a report of this type. This report is not a directory of industry participants. The company profiles include a selection of operators rather than necessarily all of the largest industry participants.
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