Ongoing study highlights signifance of the company car
The perceived importance of the company car is now rated on aggregate 8.7 out of ten (where 10 is highly important) for essential car users compared to 8.0 in Q3 of 2010 and 7.2 in Q3 of 2009. Before the recession, in Q3 of 2007, the response was as high as 9.7.
Interestingly, 45% of the 250 fleet decision makers responding to the survey gave a maximum score of 10 in response to the question while 85% opted for a rating of 8.0 or above.
The results for non-essential users are almost equally marked. In answer to the same question, the latest aggregate score is 5.7, compared to 5.1 in Q3 of 2010 and 4.7 in Q3 of 2009.
Gary Killeen, Commercial director for GE Capital, Fleet Services UK, said: ‘What the research indicates is that since the technical end of the recession towards the end of 2009, the company car has become quite markedly more important to UK employers and their employees.
‘There are a number of reasons for this, we believe. Key amongst them is recognition that the company car remains the best business transport solution available at a time when costs are being closely scrutinised and achieving real world results is essential.
‘Also, in an uncertain economic environment, employees have come to value the company car ever more as a part of their remuneration package.
‘It is a timely reminder of the key contribution that the company car makes to business life in the UK.’For more of the latest industry news, click here.