Mr Killeen commented: 'With the nation set to continue focusing on the issue of costs as a result, even tougher fleet-related decisions may have to be made in terms of fleet managers tightening their belts to soften the blow of rising costs and the possibility of managing a reduced fleet.

'New research conducted by GE Capital Fleet Services has revealed that fleet managers continue to be hugely concerned with potential rises in running costs and the price of fuel. Over nine in ten (92%) believe that this will be a significant factor affecting their decisions over the forthcoming 12 months; a substantial rise from the 86% that currently see this as an issue – and, interestingly, greater than the number of managers who see fleet safety and risk management as a substantial concern.

'There is clearly a need for the very strong cost focus in the last few years to continue  and fleet managers should at a minimum be seeking advice from their leasing provider in order to seek strategic and flexible solutions to best deal with these challenges.'