UK leads way on fleet growth potential in Europe, finds latest CVO Barometer
The research, which is conducted annually by Arval to provide a neutral and international picture of changing fleet trends, surveyed 4,500 fleet operators in 15 countries to compare market developments and found that the UK is one of the fastest growing economies in Europe, with more UK businesses expect to see fleet growth than their European counterparts.
The fleet asked respondents if they expect the number of vehicles on their fleet to increase or decrease. The research shows that a balance of 17% of UK businesses with less than 100 employees expected to see an increase compared to 6% in other European countries. While a balance of 15% of larger companies (100+employees) expect to see growth compared with 12% across Europe.
Mike Waters, senior insight & consultancy manager at Arval, commented: ‘For a number of years the Barometer has shown that fleet growth is directly linked to economic performance and confidence. It is obvious that growing businesses often need more vehicles with company cars and vans remaining a crucial part of the company operation.’
He added: ‘Expectations of fleet growth are high in the UK compared to other European countries and have been since 2012. However, it is far from a gloomy picture across Europe with more businesses expecting to see fleet growth than those expecting the fleet to decline as the economic picture improves.’