Table of Contents
Key Issues
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- How can fleet service providers respond to falling business car registrations?
- How will increasing demand for hybrid and electric cars impact the market
- What key legislative changes will impact the fleet industry in the coming years?
Introduction
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- Definitions
- Methodology
- Abbreviations
- Market positioning
- The customer
- The supplier
UK Economy
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- Overview
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- Figure 6: UK GDP Quarterly Development, 2005-2015
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- Figure 7: Quarters after GDP Peak, 1979, 1990 and 2008,
- Inflation
- Interest rates
- House prices
- Consumer spending
- Manufacturing
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- Figure 8: UK Output, by Industry, 2008-2015,
- Business investment
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- Figure 9: UK GFCF 2005-2015
- Imports
- Exports
Market Factors
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- Key points
- Business investment rising and fleets expanding
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- Figure 10: Business investment in the UK, 2011-15
- Employment growth driving company vehicle demand
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- Figure 11: Employment levels in the UK, 2011-15
- Company car tax changes push fleets towards low emission vehicles
- Falling fuel price temporarily eases pressure on fleet costs
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- Figure 12: Typical retail cost of fuel in the UK, 2011-15
- Annual business mileage is going down
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- Figure 13: Annual business mileage of four-wheeled cars, in England, 2010-14
- Demographic and geographic changes increase the need for cars
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- Figure 14: Licensed cars in the UK, 2011-15
- Lease accounting changes alter contract hire model
Market Size
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- Key points
- Economic recovery reflected in rising fleet service revenues
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- Figure 15: UK market for fleet services, 2010-14
- Fleets match steady growth in UK car parc
- Slow decline in company car benefit recipients bottoms out
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- Figure 16: Taxable company car benefit in kind recipients, in the UK, 2009-14
Market Segmentation
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- Key points
- Fleet car registrations at record high while business car numbers fall
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- Figure 17: Share of UK total new car market 2015
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- Figure 18: Segmentation of UK new car registrations, by volume, 2011-15
- Meeting SME needs
Market Trends
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- Key points
- Used fleet values continue to climb
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- Figure 19: Average annual used car values of new fleet and lease cars, 2010-15
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- Figure 20: Seasonal variation in sales of new fleet and business cars, 2010-14
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- Figure 21: Monthly sales of new fleet and business cars, January to December 2015
- Electric vehicle uptake rises in 20145
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- Figure 22: Hybrid and plug-in electric vehicle registrations, by volume, 2011-15
- Importance of car features
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- Figure 23: Features important when buying a car, December 2014
- Technology and innovation
- Online fleet management tools
- Connected cars to alter fleet landscape
- Government support for connected and autonomous vehicles
Industry Structure
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- Key points
- Structure by turnover
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- Figure 24: Analysis of the financial structure of the automobile renting and leasing sector, 2014 and 2015
- Structure by employment
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- Figure 25: Analysis of the employment structure of the automobile renting and leasing sector, 2014 and 2015
ALD Automotive
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- Recent company activity
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- Figure 26: Financial analysis of ALD Automotive, 2010-14
- Company strategy
Alphabet (GB)
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- Recent company activity
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- Figure 27: Financial analysis of Alphabet (GB), 2010-14
- Company strategy
Arval UK
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- Recent company activity
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- Figure 28: Financial analysis of Arval UK, 2010-14
- Company strategy
GE Commercial Finance Fleet Services/Arval
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- Recent company activity
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- Figure 29: Financial analysis of GE Commercial Finance Fleet Services, 2010-14
- Company strategy
Hitachi Capital Vehicle Solutions
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- Recent company activity
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- Figure 30: Financial analysis of Hitachi Capital Vehicle Solutions, 2011-15
- Company strategy
Inchcape Fleet Solutions
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- Recent company activity
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- Figure 31: Financial analysis of Inchcape Fleet Solutions, 2010-14
- Company strategy
Leaseplan UK
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- Recent company activity
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- Figure 32: Financial analysis of LeasePlan UK, 2010-14
- Corporate strategy
LEX Autolease
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- Recent company activity
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- Figure 33: Financial analysis of Lex Autolease, 2010-14
- Company strategy
Mercedes-Benz Financial Services
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- Recent company activity
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- Figure 34: Financial analysis of Mercedes-Benz Financial Services UK, 2010-14
- Company strategy
Ogilvie Fleet
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- Recent company activity
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- Figure 35: Financial analysis of Ogilvie Fleet, 2011-15
- Company strategy
Zenith Leasedrive
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- Recent company activity
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- Figure 36: Financial analysis of Zenith-Leasedrive Group, 2010-15
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- Figure 37: Financial analysis of Zenith Vehicle Contracts, 2011-15
- Company strategy
Forecast
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- Key points
- Rising leasing rates not projected to halt fleet industry revenue growth
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- Figure 38: Forecast UK market for fleet services, 2016-20
- Rapid growth in new registrations forecast to slow
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- Figure 39: Forecast segmentation of UK new fleet and business car registrations, 2015-19
- Smaller fleets, new lease products and greater pooling expected
Further Sources and Contacts
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- Trade associations
- ACFO (Association of Car Fleet Operators)
- British Vehicle Rental & Leasing Association
- Finance & Leasing Association
- Institute of Car Fleet Management
- Retail Motor Industry Federation
- Society of Motor Manufacturers & Traders (SMMT)
- Trade magazines
- Fleet News
- Fleet World
- Motor Transport
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