FLEET operators are expecting to see growth of almost a third (29%) over the next three years, according to the 2023 Arval Mobility Observatory Barometer.
The primary reason cited by decision makers predicting an increase in fleet numbers is that their company is expanding – mentioned by 76% – but human resource-related needs (28%) and plans to offer vehicles to employees under salary sacrifice schemes (25%) are also important factors.
He pointed out that there were, however, notable variances in growth rate forecasts when it came to UK businesses of different sizes. Shaun said “There is greater optimism among smaller companies, our research shows. While 16% of organisations with more than 1,000 employees predict growth, 26% of those with fewer than 10 employees expect an increase in their fleet size.”
He also commented that further positivity could be seen in the research’s international comparison, where the UK’s growth forecast of 29% of companies was higher than both the European average of 23% and the global average of 27%.
“Looking at specific reasons why UK fleets expect to see growth – such as expanding or planning new activities, employee attraction and retention, salary sacrifice arrangements and car sharing – it is clear that predictions of higher fleet numbers are being prompted by an ever wider range of factors.
“Also, although it is not explicitly stated as a reason, the continued favourable tax benefits on electric vehicles is almost certainly a strong underlying reason, fuelling these increases through company car and salary sacrifice arrangements.”
The Arval Mobility Observatory (AMO) is an annual fleet barometer, with analysis based on interviews with more than 8,600 decision-makers across 30 countries and a range of sectors. This could be anything from one-vehicle companies to fleets in the thousands, with findings broken down for UK trends such as electrification, vehicle supply, and salary sacrifice.