As another lockdown leaves company car activity stalled in suspended animation, a new BVRLA report analyses the market and the long-term trends that will drive its destiny.
With all but essential journeys banned and new car registrations slumping to a thirty-year low, the company car sector has entered 2021 as it spent much of 2020, in an artificial position.
The BVRLA Company Car Report puts this vital but poorly defined part of the fleet industry under the spotlight. It provides much needed insight into the number of company cars, the type of people that drive them and manage them, and what motivates their decisions.
It also explores some of the key factors likely to influence the direction of the company car market in the future – assessing the impacts of grey fleet and cash allowances, electrification, the tax roadmap and COVID-inspired changes in business travel.
“The company car is the lifeblood of the motor finance sector and a vital tool for thousands of businesses, but as a market, it is very difficult to pin down,” said BVRLA Chief Executive, Gerry Keaney.
“It often feels as if no two people have the same definition of what a company car is, how many of them there are, or where the sector is going.