Table of Contents
Executive Summary
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- The market
- High car registration levels reflect a strong year for fleet services
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- Figure 1: UK market for fleet services, 2010-13
- Taxable company car numbers continue to slide
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- Figure 2: Taxable company cars in the UK, 2007-12
- Business car registrations boom in 2013
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- Figure 3: Segmentation of UK new fleet and business car registrations, 2009-13
- Economic expansion to underpin growth in 2014
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- Figure 4: Forecast UK market for fleet services, 2014-18
- Market factors
- Reduced capital allowances makes outright purchase more costly
- Residual values reach new highs
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- Figure 5: Average used fleet & lease car values in the UK, 2009-13
- Fuel price escalation hits drivers’ pockets
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- Figure 6: Typical retail cost of fuel and fuel duty level in the UK, 2000-13
- Replacement cycles reduced from 2012 onwards
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- Figure 7: Average age of used fleet & lease cars in the UK, 2009-13
- Companies
- Alphabet expansion doesn’t dent profitability
- Lex’s fleet rationalised but still far out in front
- What we think
Introduction
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- Definitions
- Methodology
- Abbreviations
- Market positioning
- The customer
- The supplier
- UK economy
- Inflation
- Interest rates
- Manufacturing
- Business investment
- Imports
- Exports
- Market factors
- Fleet cars and the tax system
- Government use of direct legislation
- Grant schemes
- Internal market factors
Market Size and Trends
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- Chapter summary
- Market size
- Fleet market springs into second gear in 2013
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- Figure 8: UK market for fleet services, 2009-13
- Fleet and business cars maintain steady share of car parc
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- Figure 9: The UK fleet & business car parc, 2009-13
- Taxable company cars falling in number
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- Figure 10: Taxable company cars in the UK, 2007-12
- Market segmentation
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- Figure 11: Segmentation of the UK new fleet & business registrations, by volume, 2009-13
- Market trends
- Car ownership expanding as households remain committed to private transport
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- Figure 12: Household car availability in Great Britain, 2002-12
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- Figure 13: Licensed cars in the UK, 2003-13
- New fleet and business car registrations recovery outpaced by private purchases
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- Figure 14: Fleet & business car registrations, 2009-13
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- Figure 15: Car registrations, by sector, 2009-13
- Tax disc abolition to reduce burden on fleets but reclaim rates unchanged
- Blow for outright purchasers as tax allowances tighten
- Reduced used car stock buoys ever-rising residual values
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- Figure 16: Average used fleet & lease car values in the UK, 2009-13
- Replacement cycles begin to fall after increase through downturn
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- Figure 17: Average age of used fleet & lease cars in the UK, 2009-13
- Contract hire remains most popular form of acquisition
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- Figure 18: Fleet & business car acquisition methods, 2013
- Ever-increasing fuel prices raise cost pressures for fleet managers
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- Figure 19: Typical retail cost of fuel and fuel duty level in the UK, 2000-13
- Rising insurance costs impose additional burden on fleets
- Seasonal variation in sales demonstrates a slight increase
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- Figure 20: Seasonal variation in sales of new fleet & business cars, 2009-13
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- Figure 21: Monthly sales of new fleet & business cars, January to December 2013
Industry Structure
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- Chapter summary
- Industry development
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- Figure 22: Analysis of the changes in the UK automobile renting & leasing industry, 2009-13
- Car manufacturers continue to expand presence in the industry
- Leading companies by fleet size
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- Figure 23: Changes in company fleet size, 2009 and 2013
- Structure by turnover
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- Figure 24: Analysis of the financial structure of the automobile renting & leasing sector, 2012 and 2013
- Structure by employment
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- Figure 25: Analysis of the employment structure of the automobile renting & leasing sector, 2012 and 2013
- Company profiles
- ALD Automotive
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- Figure 26: Financial analysis of ALD Automotive, 2008-12
- Alphabet (GB)
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- Figure 27: Financial analysis of Alphabet (GB), 2008-12
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- Figure 28: Financial analysis of Alphabet (UK) Fleet Management, 2008-12
- Arval UK
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- Figure 29: Financial analysis of Arval UK, 2008-12
- Daimler Fleet Management UK/Mercedes-Benz Financial Services UK
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- Figure 30: Financial analysis of Daimler Fleet Management UK, 2006-10
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- Figure 31: Financial analysis of Mercedes-Benz Financial Services UK, 2009-12
- Hitachi Capital Vehicle Solutions
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- Figure 32: Financial analysis of Hitachi Capital Vehicle Solutions, 2009-13
- GE Commercial Finance Fleet Services
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- Figure 33: Financial analysis of GE Commercial Finance Fleet Services, 2008-12
- Hertz (UK)
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- Figure 34: Financial analysis of Hertz (UK), 2008-12
- Inchcape Fleet Solutions
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- Figure 35: Financial analysis of Inchcape Fleet Solutions, 2008-12
- Leasedrive Group/Masterlease
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- Figure 36: Financial analysis of Leasedrive Group, 2008-12
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- Figure 37: Financial analysis of Masterlease, 2006-10
- LeasePlan UK
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- Figure 38: Financial analysis of LeasePlan UK, 2008-12
- Lex Autolease
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- Figure 39: Financial analysis of Lex Autolease, 2008-12
- Lombard Vehicle Management
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- Figure 40: Financial analysis of Lombard Vehicle Management, 2008-12
Forecast
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- Chapter summary
- Market size
- The broader economic picture
- Consequences for the fleet services market
- Internal market drivers
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- Figure 41: Forecast UK market for fleet services, 2014-18
- Market segmentation
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- Figure 42: Forecast segmentation of UK new fleet and business car registrations, 2014-18
- Industry
- Further industry consolidation on the horizon
- Green fleets to accelerate but alternative fuels not ready to make impact
Further Sources and Contacts
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- Trade Associations
- Trade Magazines
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