Latest Leasing News
Seven-seat cars are in demand both as rental and used
The top three rental requests in Q1 were for the Audi Q7, followed closely by the Kia Sorento and the Seat Tarraco, while the Dacia Jogger is sought-after by customers looking for value and space.
Companies turn to short term leases to address grey fleet challenges
Liquid Fleet says a short-term lease car makes sense as it provides a new or nearly new car in A1 condition that is adequately insured for business use. It gives peace of mind to managers that their employees who travel sporadically on company business are driving a well-maintained car which is something more difficult to manage when they use their own private car.
Parts availability and technician shortages improving in 2023
r2c’s figures, based on more than 30,000 records across accident damage and unscheduled repairs, show that there has been a general improvement across the board when it comes to delays as a result of parts availability and shortage of labour – two issues that have plagued the SMR sector for the past few years.
Leasys drives forward with sustainable mobility
Leasys' transition towards a more sustainable mobility future is not limited to replacing vehicles. It encompasses a collaborative effort among diverse stakeholders from industry, institutions, and services, along with fostering a shift in our collective environmental consciousness.
SOGO takes a lead with Scope 3
Certification required the full commitment of the team at SOGO and the cooperation of the company's supply chain. The verification was completed by an independent auditor and enables the company to comprehensively monitor its carbon emissions as a business.
Leases and warranties should align with new “real world” fleet replacement cycles
Fleet management software specialist FleetCheck said that cars across its user base are now generally being operated for close to five years compared to 3-4 previously, while vans have moved from around 5-6 to up to 7-8. Post-Covid shortages have meant most fleets have been forced to operate vehicles for much longer than originally planned and, in the process, have learnt that they can be safely and economically be operated on longer cycles.
Mobilize and Select launch new leasing brand
New company combines the brand recognition and expertise of one of the UK’s leading Contract Hire brokers with the financial strength of Mobilize Financial Services UK services will include full multi-brand car and van leasing solutions, for private and business customers alike.
Tusker enjoys record six months
Tusker, which has been part of the Lloyds Banking Group since February this year, has also had a record-breaking first half of 2023, having delivered more than 8,500 brand new vehicles in the six-month period. This brings its overall fleet size to more than 29,000 vehicles for the first time. Of these, 86% electric vehicles - more than 6900, were delivered.
Business drivers could owe up to £1.6bn in excess mileage charges
Wessex Fleet found that 24% of company car drivers are on target to breach their mileage limits and incur excess mileage charges. The expected charge for each of these drivers, based on a fee of 32p per mile above the pre-agreed limit, is a staggering £8,981.
Can EV sal sac mitigate effects of 40% tax trap?
Latest analysis from Fleet Evolution shows that an electric car leased through a salary sacrifice scheme can not only save income tax but it can, for employees with children, also help protect valuable childcare benefits. An employee with three children and earning £48,000 a year, would be earning an estimated £55,000 in 2027/28, based on average 5% annual pay increases. This will take them into the 40% tax band and means they lose 50% of their childcare benefit, roughly on average £120 a month, as this is index linked.
Fleets taking SMR back in-house
Move is prompted both by both electrification and the general ageing of the fleet vehicle parc that was currently underway. There’s a growing perception among fleets that what they are being charged for SMR by third parties, especially leasing company maintenance packages, is overinflated and outweighs any expertise that third parties bring when it comes to SMR buying.
SMR issues increasing fleet VOR time
Garages and workshops – from small independents to franchise dealers and repairer networks to fast-fits – are facing similar problems to almost every other part of the motor industry. Getting hold of many parts is difficult while finding trained staff is challenging. These facts are having a direct impact on fleet VOR times and are not the fault of suppliers.
ULEZ expansion drives motorists towards flexible vehicle access models
RESEARCH from Churchill Expert, Direct Line Group’s flexible fleet insurance provider, reveals a quarter of London based drivers whose current vehicle doesn’t comply with the emissions standards for the expanded Ultra Low Emission Zone (ULEZ) are planning to switch to a compliant model.
AFP creates EV mileage cost calculator
Calculator has been created by AFP member David Watts of Volkswagen Financial Services Fleet and plans are underway to make the data it produces widely available across the membership body. It shows potential pence per mile costs for more than 70 models, comparing a variety of home and public charging tariffs in a variety of weather conditions against the current nine pence per mile Advisory Electricity Rate (AER) rate from Her Majesty’s Revenue and Customs (HMRC).
Alphabet reports rise in demand for sustainable fleets
Alphabet’s latest business figures indicate awareness and demand for sustainable, alternative fleet options continue to build at pace. Its eMobility segment once again showed strong growth in share in 2022. The company’s electrified vehicle portfolio has enlarged substantially over the last three years and last year was no exception with 53,500 vehicles hitting the road. Electrified vehicles accounted for 31% of total new business in 2022 and today, one in three Alphabet vehicles is either partially or fully electric.
Abbott Labs on target for all-EV fleet 2023
Drivers are also allowed to add their own contribution to cars of up to 20% and many have chosen to do this, especially in relation to a new 90 car Tesla opportunity that Arval has been able to secure. This is especially attractive because the cars are price protected.
Fleet Evolution webinar looks at living with an electric car
Hosted by Andrew Leech, founder and managing director at the EV salary sacrifice and fleet management specialist, who has over a decade’s experience of running an electric car himself, the latest in a series of webinars begins on Friday February 3rd at 1.00pm. It then continues on Tuesday evenings at 7.00pm before repeating on subsequent Fridays at 1.00pm.
The modern costs of car rentals
Car rental is a cost-effective solution to buying, but outside of the booking prices of the vehicle you’re after, there’s still a lot of budgeting to consider. Co Wheels, the hourly car rental business looks at the budgeting you need to plan before tackling the open road. Hiring a car to use on a need’s basis could be a great alternative to owning one, but could on-road charges make it less convenient on your wallet?
Arval’s medium-term rental fleet grows 50% in a year
Twelve months ago (Oct 21-22), it numbered around 2,500 cars and vans, but has now grown to 3,800, with significant growth expected to continue for at least the next two years. Electrification of the fleet is also gathering pace. At present, more than 14% are electric vehicles, but by the middle of the decade this should be over 90% in line with the 2030 deadline.
Mobilize creates new leasing division
Mobilize Lease&Co will develop usage-based solutions that include increasingly flexible leasing offers, as well as fleet management services through vehicle connectivity. Mobilize Lease&Co's new offers will be progressively extended to several countries in Europe and Latin America, to retail customers, small and medium fleets large accounts as well as mobility operators. The aim is to reach a fleet size of 1 million vehicles by 2030, compared to 350,000 today.