CVO reports fleet confidence

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Fleet confidence is mirroring wider economic performance, according to research from the Corporate Vehicle Observatory (CVO) Barometer.

The UK is one of the fastest growing economies in Europe and the survey of more than 4,500 fleet decision makers across 15 countries shows that more UK businesses expect to see fleet growth than their European counterparts.

The survey asked if fleet decision makers expected the number of vehicles on their fleet to increase or decrease. A balance of 17% of UK businesses with less than 100 employees expected to see an increase compared to 6% in other European countries. While a balance of 15% of larger UK companies (100+ employees) expected to see growth compared with 12% across Europe.

Mike Waters, senior insight and consultancy manager at Arval, which founded the CVO, said: “For a number of years the Barometer has shown that fleet growth is directly linked to economic performance and confidence. It is obvious that growing businesses often need more vehicles with company cars and vans remaining a crucial part of the company operation.”