Fleet News

Company car and cash options top driver poll

COMPANY cars and cash-for-car allowances are the two most highly prized employee benefits across Europe, according to the first pan-European survey of company car drivers. The 1,750 drivers questioned said they valued their company car/cash option more highly than health insurance, mobile phones, pension schemes, share options, creche and a canteen.

International leasing and fleet management giant Lease Plan carried out the survey in the UK, Norway, France, Netherlands and Spain. It found that drivers across Europe, particularly in Britain, Norway and France, welcomed the hassle-free nature of a company car. Spanish drivers appreciate company cars because they are cheaper than running a private car, but in other countries company car tax is becoming a more pressing issue.

Almost one in five (18%) of drivers would give up their car if taxes rose by 10%, while a 20% tax hike would see 24% of drivers hand in their car keys. Almost half (48%), however, would swallow a 30%-plus increase before considering giving up their company car. Two thirds of drivers would be willing to accept a cash sum instead of their company car, although they put a relatively high value on the benefit, at an average of £5,382.

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