Alfa Laval’s 110 high-mileage drivers have made the switch, which is expected to save the company an estimated £70,000 a year.
The firm had considered various alternatives to company cars in order to reduce its costs, and decided on an ECO scheme because of the liability and risks associated with the cash-for-car option.
The high-mileage fleet will be managed by ECO specialist Provecta Car Plan. Provecta was selected because of its expertise and its experience in managing ECO plans for the engineering industry.
In order to effectively claim back VAT costs on business fuel, Alfa Laval has also introduced a fuel card and is managing all its fuel purchases and business miles record keeping through Provecta’s on-line solution MyMiles.
The MyMiles system helps drivers to accurately record all business journeys, thereby enabling Alfa Laval to support its VAT reclaim in line with the latest requirements.
Nick Gaul, Alfa Laval’s financial director, said: ‘Our investigations had highlighted that our company car fleet was no longer delivering benefits and rising costs meant that we needed to make some changes.
‘We worked closely with Provecta to identify an alternative that would deliver all our financial and HR-related objectives. We found the answer in employee car ownership.’