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Uncertainty driving growth in b2b rental, says FleetEurope

FleetEurope is claiming record growth for its corporate rental products during the first half of 2018, attributing it to economic uncertainty driving businesses to seek alternatives to longer-term leasing.

Joe Howick

Joe Howick of FleetEurope

The company said its MonthPlus and SelectPlus products, launched last year and offering periods of of 28 or more, and 90 or more, days respectively, had both played a significant role in its 39% year-on-year increase in rental days during the first half of 2018. Collectively, these now account for 78% of the total days booked.

It is now forecasting 28% year-on-year increase in revenue during Q4 2018, and an additional 20% is projected in 2019, with chief operating officer, Joe Howick, adding that there is potential to make strategic acquisitions on top of the company’s planned organic growth.

Howick said: “The UK is in a period of economic uncertainty and understandably businesses are looking to reduce the risk of making long-term financial commitments when it comes to the mobility of their employees. Rental market pricing has now reached a level that allows businesses to make a cost neutral switch from a three-year vehicle lease to a flexible mini lease, depending on the type of vehicle they require.”

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Alex Grant

Trained on Cardiff University’s renowned Postgraduate Diploma in Motor Magazine Journalism, Alex is an award-winning motoring journalist with ten years’ experience across B2B and consumer titles. A life-long car enthusiast with a fascination for new technology and future drivetrains, he joined Fleet World in April 2011, contributing across the magazine and website portfolio and editing the EV Fleet World Website.