Fleet Services - UK - March 2017
“The fleet services market continues to grow at an impressive rate, driven by an increasingly attractive economic landscape bolstering demand across business channels, while the market is also increasingly being shaped by environmental pressures and technological progress.”
Marco Amasanti, B2B Analyst
This report addresses the following key questions:
- How has the national economy and the ongoing recovery from the 2008 recession shaped the market?
- How have environmental concerns and pressure shaped activity in the market and consumer base?
- Where are the core areas of demand for fleet services?
- What are the implications of Brexit on the industry and market?
- How great of a role is technology and its recent progress expected to have in the industry moving forward?
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- Market data
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Table of contents
Executive Summary
- Market size
- By value
- Figure 1: UK fleet services market value, £ billion, 2012-16
- By volume
- Figure 2: UK cars on the road, total and business, ‘000 cars, 2011-15
- Market segmentation
- Figure 3: Registrations by sales type, private, fleet & business, 2012-16
- Figure 4: Ultra-low emission cars, first time registration, 2011-15
- Market factors
- Ongoing growth in business investment
- Figure 5: UK business investment, £ million, Q1 2012-Q4 2016
- Employment continues to grow
- Figure 6: UK employment level, ‘000, Q4 2012-16
- Growing popularity of salary sacrifice schemes
- UK tax changes and crackdown on salary sacrifice schemes
- Impressive growth across used car sales
- Figure 7: Used car sales, 2012-16
- Market forecasts
- Figure 8: Fleet service market value forecasts, £ billion, 2017-21
- What we think
Key Insights
- What impact will the recent Brexit decision have on the fleet services market?
- How have growing environmental concerns manifested in the UK fleet services and wider automotive industry?
Introduction
- Issues in the market
- Definitions
- Methodology
- Abbreviations
- Market positioning
- Issues in the market
UK Economy
- Key points
- Overview
- Figure 9: UK output, by industry, 2008-16
- Figure 10: Quarters after GDP Peak, 1979, 1990 and 2008
- Inflation
- Interest rates
- House prices
- Figure 11: UK house price changes, 2006-16
- Consumer spending
- Manufacturing
- Figure 12: UK manufacturing, 2014-17
- Business investment
- Figure 13: UK GFCF 2005-16
- Imports
- Exports
- Key points
Market Factors
- Key points
- Business investment continues to grow amid rising confidence
- Figure 14: UK Business investment
- UK unemployment falls to an 11-year low
- Figure 15: UK Employment level, ‘000 people, Quarter 4 2012-16
- Growing popularity of salary sacrifice schemes
- Figure 16: Nature of company cars provision, by income, ‘000, 2013-14
- UK tax changes and crackdown on salary sacrifice schemes
- Impressive growth across used car sales
- Figure 17: UK used car sales, 2012-16
- Key points
Market Size
- Key points
- The market continues to grow as it looks to have fully consolidated its recovery from the economic crisis
- Figure 18: UK fleet services market size, by value, £ billion, 2012-16
- Ongoing expansion across fleet sizes
- Figure 19: UK Cars on the road, total and business, ‘000 cars, 2011-15
- Key points
Market Segmentation
- Key points
- Fleet vehicles continue to drive total registrations
- Figure 20: Registrations by sales type, private, fleet & business, 2012-16
- Surging popularity of Ultra-Low Emissions Vehicles
- Figure 21: Ultra low emissions cars registered for the first time, 2011-15
- Key points
Industry Structure
- Key points
- Industry development
- The number of outlets and businesses continues to grow on an annual basis
- Figure 22: Analysis of the changes in the automobile renting & leasing industry, number of businesses and outlets, 2015 and 2016
- Structure by turnover
- Figure 23: Analysis of the financial structure of the automobile renting & leasing sector, £000 and number of companies, 2015 and 2016
- Structure of employment
- Figure 24: Analysis of the employment structure of the automobile renting & leasing sector, number of outlets and employees, 2015 and 2016
- Key points
Company Profiles
ALD Automotive
- Figure 25: Financial analysis of ALD Automotive, £ million, 2011-15
- Recent company activity
- Company strategy
Alphabet
- Figure 26: Financial analysis of Alphabet (GB), £ million, 2011-15
- Recent company activity
- Company strategy
Arval
- Figure 27: Financial analysis of Arval, £ million, 2011-15
- Recent company activity
- Company strategy
Hitachi
- Figure 28: Financial analysis of Hitachi Capital Vehicle Solutions, £ million, 2012-16
- Recent company activity
- Company strategy
Inchcape
- Figure 29: Financial analysis of Inchcape Fleet Solutions, £ million, 2011-15
- Recent company activity
- Company strategy
Leaseplan
- Figure 30: Financial analysis of LeasePlan UK, £ million, 2011-15
- Recent company activity
- Company strategy
LEX Autolease
- Figure 31: Financial analysis of Lex Autolease, £ million, 2011-15
- Recent company activity
- Company strategy
Mercedes Benz Financial Services
- Figure 32: Financial analysis of Mercedes-Benz Financial Services, £ million, 2011-15
- Recent company activity
- Company strategy
Ogilvie Fleet
- Figure 33: Financial analysis of Ogilvie Fleet, £ million, 2012-16
- Recent company activity
- Company strategy
Zenith
- Figure 34: Financial analysis of Zenith, £ million, 2012-16
- Recent company activity
- Bridgepoint
- Company strategy
Forecast
- Key points
- Fleet services expected to sustain growth despite some turbulent market conditions
- Figure 35: Fleet service market value forecasts, £ billion, 2017-21
- Technological innovation
- Consolidation of eco-orientated vehicles
- Growth of connected services
- Emergence of autonomous vehicles
- Key points
Further Sources and Contacts
- Trade associations
- ACFO (Association of Car Fleet Operators)
- British Vehicle Renting & Leasing (BVRLA)
- Finance and Leasing Association
- Institute of Car Fleet Management
- Retail Motor Industry Federation
- Society of Motor Manufacturers & Traders (SMMT)
- Trade magazines
- Fleet News
- Fleet World
- Motor Transport
- Trade associations
Fleet Services - UK - March 2017