I have been a company car fleet manager for almost 30 years and for more than the past decade my role has also embraced travel management. But, in my experience, the current pace of change we are witnessing is unprecedented.
Leasing companies’ success in winning business in the retail sector, such as company staff who have opted to take cash and buy outside the car scheme, has resulted in a dilution of their contract hire business and the rise of ‘other’ funding methods, primarily personal contract hire (PCH).
The vast majority of the FN50 saw pre-tax profits fall year-on-year, according to the latest available figures. A deterioration in residual values was blamed by some, while increasing staff costs were held responsible by others.