UK Fleets Expect to Grow in Next Three Years

Setting a positive agenda for fleets in the future, more than a quarter of all UK fleets are expecting a period of growth.

Against a difficult economic background and beset with vehicle supply problems, 27% of fleet decision makers said their fleet would expand, the majority pointing to business growth as the key factor. Other drivers behind anticipated growth were human resource related needs and plans to offer employees without a company car a vehicle as salary sacrifice schemes start to soar in popularity.

The details emerged from the latest Mobility Observatory Barometer run by Arval, the leasing and mobility business owned by BNP Paribas. Shaun Sadlier, head of Arval Mobility Observatory in the UK, said, “A net 27% of organizations predicting expansion of their fleet operations is a strong indication of confidence in the sector. This is comparable to the 29% figure seen in 2021 and stronger than the 21% recorded in 2020. Clearly, businesses expect a strong rebound in 2022.

“One of the most surprising findings in last year’s research was the high degree of optimism surrounding future fleet growth, despite the potential impact of Covid-19 and lockdowns at that time. Even though we are now emerging from the pandemic, this year brings a different set of risks – ranging from conflict to a rapidly rising cost of living – but fleets still remain notably positive about the future.

“One central fact is clear – as we emerge from the pandemic, company cars and vans remain core to business growth strategies moving forward.”

Arval Mobility Observatory carries out its authoritative research of key trends in the fleet and mobility sectors every year. The 2022 Barometer questioned fleet decision makers in 26 countries - the responses presented here cover just the UK market.