The most popular car with small business managing directors is a Mercedes.
21% of MDs choose a Mercedes.
Business Motoring Award Winners 2024
Business Motoring Award Winners 2024
Business Motoring Award Winners 2024
Business Motoring Award Winners 2024
Business Motoring Award Winners 2024
The next most popular is a Volvo (14%) followed by an Audi (12%).
The average price of the car is £30,000.
The Institute of Directors’ report – called Directors’ R£wards – surveyed some 4000 IoD members. Nearly 1000 of the survey sample were small business directors.
The majority of small companies still prefer to supply a company car (44%). The remainder offer cash.
The report stated that the volume of directors taking a cash alternative is rising. This, said the report, is due to the tax pressure burden.
The average cash amount given in place of a company car is £6500.
The report also found that 29% of small business directors are working in excess of 55 hours per week.
The average pay of a small company MD is £66,560. The average bonus is £20,000.
The cars most popular with small business MDs
- Mercedes-Benz
- Volvo
- Audi
- Jaguar
- BMW
A Mercedes is the first choice for managing directors