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Fleet Services - UK - March 2018

EXECUTIVE SUMMARY 
The market
Figure 1: UK fleet services market value, £ billion, 2013-17
Market trends
New fleet registrations
Figure 2: UK total fleet registrations volume, 2011-17
Continued growth in alternatively fuelled vehicles
Figure 3: UK alternatively fuelled vehicle registrations, 2012-16
UK business growth
Figure 4: UK number of enterprises, 2013-17
Fuel pricing has regained growth momentum over the past six months
Figure 5: Road fuel prices, weekly, pence per litre, January 2013-January 2018
Employment growth driving company vehicle demand
Figure 6: UK total employment, ‘000, September-November 2013 to September-November 2017
Market factors
The imposition of salary sacrifice scheme changes
Technology
Market forecasts
Figure 7: UK fleet services forecast market value, 2018-22
Ongoing changes to fleet vehicles
The future consolidation of car sharing schemes
What we think
KEY INSIGHTS
How has the UK’s decision to leave the EU impacted the fleet services industry?
The potential outcomes of Brexit negotiations
Giving mounting competition in the market, how can companies look to progress over coming years?
Differentiation through service
Telematics
INTRODUCTION
Issues in the market
Definitions
Methodology
Abbreviations
Market positioning
UK ECONOMY 
GDP forecast
Figure 8: Forecast GDP development, % growth, 2017-22
GDP quarterly development
Figure 9: UK GDP quarterly development, Q1 2004-Q1 2017
Inflation
House prices
Figure 10: UK house price changes, % change, 2006-17
Interest rates
Consumer spending
Manufacturing
Figure 11: UK manufacturing index, January 2014-January 2017
Business investment
Figure 12: UK GFCF, 2003-17
Imports
Exports
MARKET SIZE
Key points
The market
Figure 13: UK fleet services market value, 2013-17
New technology and rise of AFVs fuels growth
MARKET TRENDS
Key points
New fleet registrations
Figure 14: Volume of total fleet registrations in the UK, 2011-17
Continued growth in alternatively fuelled vehicles
Figure 15: UK alternatively fuelled vehicle registrations, 2012-16
UK business growth
Figure 16: UK number of enterprises, 2013-17
Fuel pricing has regained growth momentum over the past six months
Figure 17: Road fuel prices, weekly, pence per litre, 2013-17
Employment growth driving company vehicle demand
Figure 18: UK total employment, September-November 2013-September-November 2017
MARKET FACTORS
Key points
Salary sacrifice scheme changes introduced
Technology
Telematics
Sustainability
INDUSTRY STRUCTURE
Key points
Industry development
Industry by structure
Figure 19: Analysis of the changes in the automobile renting and leasing industry, by number of businesses and outlets, % growth, 2013-17
Industry by turnover
Figure 20: Analysis of the financial structure of the automobile renting and leasing industry, 2016 and 2017
Industry by employment
Figure 21: Analysis of the employment structure of the automobile renting and leasing industry, by number of outlets and employees, 2016-17
COMPANY PROFILES 
ALD AUTOMOTIVE 
Recent company activity
Figure 22: Financial analysis of ALD Automotive, 2012-16
Company strategy
ALPHABET
Recent company activity
Figure 23: Financial analysis of Alphabet, 2012-16
Company strategy
ARVAL
Recent company activity
Figure 24: Financial analysis of Arval, 2012-16
Company strategy
HITACHI 
Recent company activity
Figure 25: Financial analysis of Hitachi, 2012-16
Company strategy
INCHCAPE
Recent company activity
Figure 26: Financial analysis of Inchcape, 2012-16
Company strategy
LEASEPLAN
Recent company activity
Figure 27: Financial analysis of Leaseplan UK, 2012-16
Company strategy
LEX AUTOLEASE
Recent company activity
Figure 28: Financial analysis of Lex Autolease, 2012-16
Company strategy
MERCEDES BENZ FINANCIAL SERVICES
Recent company activity
Figure 29: Financial analysis of Mercedes Benz Financial Services, 2012-16
Company strategy
OGILVIE FLEET
Recent company activity
Figure 30: Financial analysis of Ogilvie Fleet, 2012-16
Company strategy
ZENITH
Recent company activity
Figure 31: Financial analysis of Zenith, 2013-17
Bridgepoint
Company strategy
MARKET FORECAST 
Key points
The market
Figure 32: UK fleet services forecast market value, 2018-22
Ongoing changes to fleet vehicles
The future consolidation of car sharing schemes
FURTHER SOURCES AND CONTACTS
Trade associations
ACFO (Association of Car Fleet Operators)
British Vehicle Renting & Leasing (BVRLA)
Finance and 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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