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The company car grows up09 February 2010 University of Buckingham and LeasePlan UK today launched The Fleet 2020 Report, the result of a research project into the future shape of the nation’s business vehicle fleets. Over the next ten years, the report suggests the humble company car will complete its journey from executive perk to measurable business tool. Drawing on a wide range of resources, from economic reviews to a series of in depth interviews with industry insiders and practitioners, the report provides the most comprehensive picture yet of the future of company vehicle fleets in the UK. The report was commissioned by LeasePlan UK Ltd and written by Professor Peter Cooke, KPMG Professor of Automotive Management at The University of Buckingham. LeasePlan intends to use the report to stimulate best practice conversations with its clients, helping evolve their fleets to meet the requirements of the next decades. The report suggests that the combination of economic environment, tax regimes and sustainability considerations will transform attitudes and approaches to company car ownership, use and management over the next ten years. Not only is this likely to manifest in a focus on greener technologies and other innovations in vehicle design, size and efficiency but also in radical changes in management and measurement of the value that fleets provide. Key among these will be balancing issues of employee benefits, utility and effective use of vehicles as assets that supports business goals. This is likely to increase the need for a more strategic approach to the management of company fleets. The specific uses of company vehicles are likely to be examined in greater detail, with focus on the operational need for vehicles rather than the personal requirements (including status) of individual drivers. This will be supported with more sophisticated and robust methods of calculating return on investment and a wider range of company transport options. Adam Wigginton, Head of Consultancy Services at LeasePlan, comments: "The questions this report raises are of interest to anyone in a business with transport needs. The next ten years are likely to see a great deal of change in business transport, and so we felt it was crucial to explore what may drive that change and identify what our clients can do to be ready for it. "There's no doubt that the concept of the company vehicle is transforming as are attitudes and behaviours related to them. As the stakes rise we are likely to see fleet management increasingly discussed at board level with leased vehicles seen as vital, valued and functional tools of doing business. "For us, the report is one way in which we're looking to help our clients direct their planning efforts over the coming years. Through our Consultancy Services team, we're working with a number of clients to help them ensure they are prepared for the twists and turns that the industry is likely to take as we head towards 2020 and beyond." To view the document please click here |
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