International research into trends driving the fleet industry, which is based on interviews with fleets from the Asia Pacific, UK, mainland Europe and USA regions, has identified four trends that can be found affecting fleet decisions across the globe.

The four will make familiar reading to fleet managers here:

 

  • The credit crunch is driving managers away from leasing to renting
  • There has been a sharp drop in residual values
  • Environmental concerns are taking greater precedence
  • Legislation is increasingly limiting vehicle choice

 

“With the global economy reeling from a succession of crises from the credit crunch to rocketing fuel prices, the fleet sector is being hit hard in a number of areas,” comments Mark Binks, managing director of automotive software provider, Bynx, which carried out the research.

“This research identifies the different issues facing the major global markets but also explores how fleet managers can economise and streamline their operations in a challenging financial environment.”

Looking at the two markets closest to home, the research found that in the UK there is already evidence of growing market consolidation, there is little or no growth in the car parc and used car values affecting leasing company profitability.

In Europe it found similar trends, along with a growing problem that manufacturer finance operations are presenting a challenge to independent leasing operations.

“It is clearly going to be a turbulent time for our industry,” said Mr Binks.

“However, this research not only uncovers the issues we face but also gives cause for optimism by revealing the opportunities that can be exploited.”