Fleet News

Leasing future is bright as business confidence returns

GROWING business confidence indicates a bright future for the fleet industry as company car drivers demand better - and newer - cars.

According to the recent figures from PHH Vehicle Management Services, in the year to June, PHH bought 24% more vehicles than in the same period last year - amounting to some £160 million worth of business for the manufacturers. Managing director David Knight said the growth looked set to continue as the feelgood factor took hold and predicted PHH would buy a further 3,500 vehicles in August alone.

The figures come hard on the heels of PHH smashing through the 200,000-vehicle barrier for its maintenance management operation in addition to the 600,000 fuel cards it has in circulation. The Swindon-based operation has taken on an extra 110 staff to cope with the extra business over the last 12 months taking its total workforce to 600.

Leave a comment for your chance to win £20 of John Lewis vouchers.

Every issue of Fleet News the editor picks his favourite comment from the past two weeks – get involved for your chance to appear in print and win!

Login to comment


No comments have been made yet.

Compare costs of your company cars

Looking to acquire new vehicles? Check how much they'll cost to run with our Car Running Cost calculator.

What is your BIK car tax liability?

The Fleet News car tax calculator lets you work out tax costs for both employer and employee