Fleet News

Fleet managers predict economy will recover in 2010

Fleet managers predict the economy will recover in 2010, according to the latest Company Car Trends Survey from GE Capital’s Fleet Services business.

More than half (57%) of fleet managers believe that the UK economy will improve slightly by the start of 2011, while a further 4% think that the economy will see a significant improvement this year. Just one-in-five (22%) believe that the economy will deteriorate.

The majority of fleet businesses also perceive that there will be no change to their fleet sizes, with 45% anticipating that car fleets will remain the same size, and 71% believing that the size of light commercial vehicle fleets will remain constant.

However, some 30% of fleet managers are concerned that their fleets will decrease in size.

Gary Killeen, UK fleet commercial leader, GE Capital, said: “While it is encouraging to see that fleet managers anticipate the UK economy to strengthen this year, it is very telling that they do not consider that their own fleets will grow as a result of the improved economy.

"It is understandable that many of these managers are prioritising cost efficiency savings on the back of the recession, but it is interesting that the economic recovery is not linked to an increase in fleet size as businesses look to longer-term growth.”

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