Fleet growth predictions at five-year high, says Arval

The number of UK fleets expecting growth has risen to its highest level for five years, according to Arval’s Corporate Vehicle Observatory Barometer.

Despite uncertain market conditions, a net 21% of UK fleets predict that the number of vehicles they operate will increase over the next three years, with 29% predicting an increase and 8% expecting a decrease.

This is the most positive response in the past five years and is four percentage points higher than last year’s net balance of 17%.

The larger the fleet, the more positive the response – big fleets net balance is 37% (50% believe their fleet size will increase) compared to SME fleets net balance of 11% (with 18% forecasting growth).

The research also indicates that UK fleets are almost twice as optimistic about the next few years when compared with the average across other European countries. By comparison, a net 11% of fleets in Europe foresee growth in the next three years, breaking down into 19% of larger fleets, 13% of medium fleets and 7% of smaller fleets.

Shaun Sadlier (pictured), head of Arval’s Corporate Vehicle Observatory in the UK, said: “This degree of positivity among fleets is good to see, even if it should perhaps be tempered slightly by the fact that our research took place just before the general election, which may have had an effect on overall economic confidence.

“It is worth noting that this sense of confidence is strongest among larger fleets. They are the ones who we would anticipate to be aware of any corporate changes that are being envisaged on a strategic level which could have a negative effect on fleet numbers. However, their confidence is high.”