Sogo reports ‘rapid growth’ of SME fleet

The number of SME fleet customers grew by 92.4% at Sogo in the past 12 months, due to businesses seeking greater flexibility, it says.

The company argues that small businesses are increasingly reluctant to sign lengthy leases due to the threat of recession.

The approach has seen corporate customers grow from 56% to 89% of revenue in the past year.  

Karl Howkins, managing director of Sogo, said: “Feedback from customers tells us that company directors value the freedom that flexible leasing brings."

He added: "It also keeps the asset off the balance sheet, which can be a big benefit when the economy tightens.”

The firm has invested in developing its offer to small businesses, particularly on helping its customers make the transition to net zero and believes that an ultra-flexible approach will help more people move to electric vehicles (EVs) faster.

Howkins concluded: “A flexible, monthly leasing offer allows companies to try different EVs to find the most suitable vehicle."