Fleet News

Half of all UK ‘s fleets planning funding review

MORE than half of all fleets are planning to review how their company cars are funded during the coming year, new research suggests.

An online poll of 500 fleet decision-makers found 61% plan to review current fleet funding options.

It was carried out by contract hire and leasing company ALD Automotive and asked fleets their views on key fleet industry issues.

Topics addressed also included company car opt-out, increases in benefit-in-kind taxation of diesel cars, Inland Revenue tax-free mileage rates and reducing the current drink-drive limit. The company said it was surprised that 39% of those polled had no intention of examining whether their current funding choice remained the most suitable for both the business and their employees in 2005.

ALD Automotive deputy managing director Nigel Fletcher said: ‘In the current climate of ongoing fiscal and legislative change, and with companies seeking to introduce ever-more flexible staff recruitment and retention packages it is important that all fleets review their funding decisions on an annual basis.

‘We are frequently finding that for many companies no single funding solution gives them the complete answer to their operational and staffing requirements. As a result, clients frequently adopt at least two methods of funding at-work vehicles and sometimes more depending on their particular circumstances.’

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