According to GE Capital, there has been a 'huge rise' in the number of fleets using short-term rental during the last 12 months, and the figure is likely to increase even further within the next few months. The latest quarterly Company Car Trends report found that almost two-in-five (38 per cent) fleet decision makers had increased their rental spend in 2014, and that a similar number (41 per cent) expected to do the same within the next year. The figures were even higher for van-heavy fleets, with more than a quarter of decision makers (76 per cent) reporting increased rentals during the past year and nearly half (48 per cent) believing that they would spend even more during 2015. Gary Killeen, managing director at GE Capital Fleet UK, said: 'What we believe we are seeing here is a hangover from the recession. Fleets are facing increasing demand as the economy starts to show signs of improvement. They want to be able to retain the flexibility to hand back a vehicle at any point in time in the eventuality that we see another downturn. It is an understandable attitude." He did, however, suggest this approach made 'little sense from a financial point of viewî and that daily rental was more of a 'top-upî to standard fleet needs, and using it as a long-term solution could be very expensive. 'We are starting to see some fleets take a more structured approach to answering the need for further vehicles rather than simply turning to a rental company. We are having conversations with several about the need to manage capacity while maintaining a high degree of flexibility. It is all about helping fleets to forecast and meet demand successfully,î added Killeen.
