Commercial HGV Vehicle Fleets ‘lacking insight’ on asset finance investments

Commercial HGV Vehicle Fleets ‘lacking insight’ on asset finance investments

Fewer than one in five fleets turn to their vehicle leasing company for key information covering safety, model specifications, and costs, according to new research.

Rather than seeking the independent, multi-brand information that a leasing company can provide, the majority (61%) rely on the manufacturers who produce each vehicle.

These findings come from the 2017 edition of Arval’s Corporate Vehicle Observatory Barometer, which covers responses from 3,847 fleets.

Shaun Sadlier, head of Arval’s Corporate Vehicle Observatory in the UK, said: “These findings are surprising to us. Like other leasing companies, we go to a lot of effort to produce large amounts of accurate, useful and independent information for fleets spanning all makes and models of vehicle.
“Motor manufacturers rarely provide intelligence of this type simply because it is not the business they are in. Companies like Arval are, after all, experts in fleet management and this type of data and insight is our forte.”

The research showed that online research plays a key role in fleet decision-making, with 38% using websites to source information.

The study also showed apps and social media remain a niche area, only used by a modest proportion of fleet managers.

Sadlier added: “Easily accessible digital information, tools and calculators have become really important for modern fleet managers.”

Arval’s Corporate Vehicle Observatory Barometer is an annual study providing a comprehensive examination of fleet trends in the UK and across Europe.

Categories: Commercial finance services