Fleet News

Survey finds drivers back cash schemes

MORE than half of all fleet drivers believe the provision of company car ownership increases the appeal of the company they work for, a new survey reveals.

And a similar amount (53%) would opt to work for a company offering car ownership over one that offered a traditional company car scheme.

The survey was compiled by car ownership provider Whitechapel and claims that 54% of fleet drivers questioned stated that employee car ownership schemes (ECOS) had increased the appeal of the company that they worked for.

Head of Whitechapel Adam Trevaskus said: 'The company car has long been considered a perk and a status symbol but has lost some of its appeal due to the changes in benefit-in-kind taxation and the resulting increased costs for the employer and employee.

'The uptake of car ownership schemes and the strong survey results suggest a growing awareness of the benefits and tax savings made available through car ownership. Companies are beginning to appreciate how these schemes complement other fleet solutions and assist them in achieving a number of key business objectives.'

The company said its survey identified the need to reduce business costs (37%), to address tax changes (37%) and to improve the benefits package (12%) as the most important reasons for fleet decision makers implementing ECOS.

For the drivers themselves, it was the increased vehicle choice (36%) and ability to save money (28%) which made car ownership an attractive option, the company said. Trevaskus added: 'More employees are demanding enhanced benefit packages, which puts pressure on companies to deliver these if they are to attract and retain the best staff.

'A car ownership scheme can dovetail into a wider business strategy and can create a win-win solution for employers and employees. There has never been a better opportunity to explore how companies can extract maximum benefits from their fleet strategy.'

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