Fleet News

Barclays widens fleet choice list as NatWest axes 5,000 perk cars

BARCLAYS Bank has enhanced its fleet choice list to offer its drivers a more motivational selection of company cars in a move that clashes with NatWest's radical decision to axe its 5,000-strong 'perk' fleet. Under the terms of Barclays' new two-year agreement, its 6,000 company car drivers can choose from BMW/Rover, Ford/Jaguar, Lexus/Toyota and Mercedes-Benz, replacing the bank's previous Rover/Nissan arrangement. Group benefits director Paul Fretten said: 'Drivers wanted more choice. We talked to as many manufacturers as we could to get the best deal for our employees and for the bank.'

The contrast with NatWest could not be more striking after the bank announced that it was scrapping its 5,000-strong perk fleet and moving its fleet department, Group Vehicle Services, into British Car Contracts, part of the bank's Lombard subsidiary. Two years ago NatWest introduced a cash alternative to the company car. That has been taken up by 2,000 drivers, with one third using the money to source a car through the bank's free choice in-house leasing scheme.

Perk drivers will now be unable to replace their company cars when they come up for renewal, and instead will receive cash compensation of between £3,600 for middle managers rising to £7,500 for senior executives. But 2,000 essential car users who cover more than 15,000 business miles a year will continue to receive an orthodox company car.

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