Research from GE Capital's latest Company Car Trends research
Sale, Manchester, 2014: "CO2 emissions limit" is the number one factor used when setting the criteria for a company car choice list, according to the latest quarterly Company Car Trends research from GE Capital, Fleet Services.
Along with "fitness for purpose" and "maximum monthly rental", these three criteria lead every other factor used by the fleets surveyed by a huge margin -- more than 50% of respondents named these top factors but all others polled less than 20%.
A wide range of fleet decision makers who took part in the report were asked What criteria do you use for an employee's choice of car? The responses from fleets were:
Today 12 months ago
1. CO2 emissions limit 62% 67%
2. Fitness for purpose 52% 59%
3. Maximum monthly rental or cost 51% 50%
4. Vehicle cost per mile 18% 22%
5. Brand image 17% 12%
6. Safety features 16% 20%
7. Maximum engine capacity 15% 14%
8. No criteria 6% 10%
Gary Killeen, Fleet Services Commercial Leader for GE Capital UK, said: "These results are very much consistent with those that we have seen from our Company Car Trends research right through the recession and into the current economic recovery.
"The company car choices that organisations are making in 2014 remain very much based on providing vehicles that are tax and fuel efficient thanks to their low CO2 rating, are practical for fleet purposes, and can be acquired in a cost effective manner through a defined monthly rental.
"We may be heading towards better economic conditions but the fleet industries general mindset shows no signs of significantly changing."
However, there were some indicators in a number of the responses received that a small but growing number of organisations appeared to be adopting a more 'post-recession' view.
Gary added: "It may be noteworthy that the top two factors -- 'CO2 emissions' and 'fitness for purpose' -- have both fallen in popularity in percentage terms compared to the Company Car Trends research undertaken at the same point in 2013. This could indicate that organisations are perhaps loosening policy requirements a little.
"Also, the fact that 'brand image' has increased in popularity during the last 12 months is perhaps a sign that companies are starting to think more about recruitment and retention issues, and becoming more concerned about presenting attractive car choices as the jobs market improves."
About Company Car Trends
Company Car Trends is a quarterly survey carried out for GE Capital Fleet Services that looks at the key issues facing car and van fleets. Over many years it has become one of the most widely recognised and authoritative pieces of research of its kind.
ENDS
Tom Steiner
GE Capital EMEA
[email protected]
+44-(0)-208-185-2494