Table of Contents
Executive Summary
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- The market
- Growth continues despite dual headwinds of Brexit and diesel emissions scandal
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- Figure 1: UK fleet services market Value, 2015-19, (£ billion)
- Figure 2: UK fleet services market forecast. 2020-24, (£ billion)
- Companies and brands
- Shift towards servitisation signifies the market’s maturity
- What we think
Issues and Insights
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- Taxation changes may not be enough to overcome charging anxiety
- The facts
- The implications
- New policies are making EVs a cost-effective and future-proof option
- The facts
- The implications
The Market – What You Need to Know
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- Uncertainty over Brexit and diesel engines sustained market headwinds
- The ‘road to zero emissions’ offers a promising future with further government support expected
- Significant taxation changes will spur growth in AFVs and charging infrastructure
Market Size
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- Low growth and investment sees the market slow for a third year
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- Figure 3: UK fleet services market, 2015-19, (£ billion)
Market Forecast
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- Demand for EVs will underpin future growth
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- Figure 4: UK fleet services market forecast, 2020-24 (£ billion)
Market Trends
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- AFV uptake continues to grow as infrastructure leaps forward in 2019
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- Figure 5: Types of AFV, % of all AFV car registrations, 2013-18
- EV charging infrastructure
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- Figure 6: Number of public EV charging connectors, by charging speed, 2011-19, (units)
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- Figure 7: Number of EVs per charging connector, by region, 2019, (units)
- CaaS
- Acquisitions are crucial to market competition as the sector matures
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- Figure 8: Capital expenditure to total employment costs ratio for the renting and leasing of cars and light motor vehicles activities, 2008-18
Market Drivers
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- Registrations increase after sharp two-year decline
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- Figure 9: UK fleet car registrations, 2011-19, (number)
- Emissions scandals have collapsed confidence in diesel
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- Figure 10: Newly registered cars by fuel type, % share of market, Great Britain, 2013-19
- Company car tax changes are set to supercharge EV uptake
- IFRS 16 changes present opportunities for long-term investment
Companies and Brands – What You Need to Know
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- Shifts from finance to services signifies the market’s future
- Fleet services’ intermediary role is energising partnerships to drive EV transition
Industry Structure
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- Changes in industry structure
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- Figure 11: Changes in the industry structure of renting and leasing cars and light motor vehicles activities, 2015-19, (number of businesses and outlets)
- Figure 12: Capital expenditure to total employment costs ratio for the renting and leasing of cars and light motor vehicles activities, 2008-18
- Structure by employment
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- Figure 13: Changes in the employment structure of the renting and leasing of cars and light motor vehicles activities, by employment band, 2018 and 2019, (number of outlets)
- Figure 14: Index of average total employment and total employment costs for the renting and leasing of cars and light motor vehicles activities, 2012-18
- Structure by turnover
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- Figure 15: Changes in the turnover structure of renting and leasing cars and light motor vehicles activities, by turnover band, 2018 and 2019, (number of businesses)
Company Profiles
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- ALD Automotive Ltd
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- Figure 16: Financial analysis of ALD Automotive Ltd, 2014-18, (£ million)
- Alphabet (GB) Limited
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- Figure 17: Financial analysis of Alphabet (GB) Limited, 2014-18, (£ million)
- Arval UK Ltd
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- Figure 18: Financial analysis of Arval UK Ltd, 2014-18, (£ million)
- LeasePlan UK Ltd
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- Figure 19: Financial analysis of LeasePlan UK Ltd, 2014-18, (£ million)
- Lex Autolease Ltd
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- Figure 20: Financial analysis of Lex Autolease Ltd, 2014-18, (£ million)
- Mercedes-Benz Financial Services Ltd
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- Figure 21: Financial analysis of Mercedes-Benz Financial Services Ltd, 2014-18, (£ million)
Appendix – Data Sources, Abbreviations and Supporting Information
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- Abbreviations
- Methodology
Further Sources and Contacts
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- Trade associations
- Trade magazines
- Trade events
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