29% of fleet companies expect to see the size of their fleet increase over the next three years, according to new data.
The 2023 Arval Mobility Observatory Barometer spoke to fleet decision-makers and the overwhelming picture is of an industry in good health and positive about the future. 76% of fleets that responded to the survey said that their company was expanding in size, but other reasons for the rise in fleet growth include HR requirements (28%) and salary sacrifice schemes (25%).
“While slightly down on previous years, the fact that almost a third of UK fleets are expecting growth in car and van numbers over the next three years feels quite significant”, said Shaun Sadlier, head of Arval Mobility Observatory in the UK.
“Overall, just 5% of those surveyed are forecasting that fleet sizes will fall, which is less than in 2022’s research findings and considering all that the fleet sector has had to handle in recent years – from the pandemic to production shortages – this underlines its resilience and core position in business transport.”
“There is greater optimism among smaller companies, our research shows,” explained Sadlier. “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. 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 research shows that the fleet industry in the UK is more positive than its European and global counterparts, with only 23% of fleet companies in Europe predicting growth and 27% around the world.