Fleet News

UK leads in company car stakes

UK COMPANIES are more likely to offer their managers and employees the option of a company car than most other European companies, according to a new survey by compensation consultant Watson Wyatt.

Company Car Report Europe indicates that 42% of UK companies offer their staff the option of taking a company car or cash alternative compared with a Western European average of 19%. UK companies are also more flexible over company car choice, with 44% allowing drivers to use personal funds to trade up and 27% compensating drivers with cash if they traded down to a smaller car.

The report also reflects minimal uptake of cash for car options in the UK, which on average is running at around 14% of those entitled to a cash alternative. Based on the responses of 2,000 companies operating in 24 countries, the report also confirmed that the company car is more prevalent in the UK than in any other European country.

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