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Grey fleet risks continue to intensify

More and more businesses are being affected by grey fleet risks, whereby personal vehicles are used for business purposes, since the onset of the pandemic, according to new research from Trakm8.

Uncertainty over grey fleet has intensified since the pandemic.

The report highlights that 30% of businesses have been moderately or significantly impacted by grey fleet issues in the past 18 months, with 58% of fleets being managed by non-fleet professionals. More worryingly, 18% of businesses don’t know how many grey fleet vehicles they have in their fleet, as well as 14% not knowing who grey fleet management responsibility lies with, meaning the issue could be far worse than first imagined.

Jim Hill, Marketing Director at Trakm8, said: “The statistics revealed in our report are very concerning and highlight the fact that more education is needed on the risks grey fleet brings and the measures businesses can put in place to help mitigate them. It is clear that grey fleet issues have been accelerated due to the impact of the pandemic and it is imperative that businesses address this issue quickly, particularly as hybrid working becomes the norm.

“Through support from the Association of Fleet Professionals, our latest report not only gives a detailed insight into the impact the pandemic has had on businesses throughout the UK, but also provides a clear understanding of legislative requirements and a blueprint of the solutions available to keep grey fleet risks to a minimum.”

The Trakm8 report, Grey Fleet on The Rise, was the result of surveying businesses across the UK with fleet sizes ranging from 10 to 100+ vehicles. The report covers the state of the industry, responsibility, legislation, training and policy, as well as grey fleet solutions available.

To download a copy of Trakm8’s Grey Fleet on The Rise report, please click here.

For more of the latest industry news, click here.

Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day.