21st April 2017
UK Fleet Operators anticipate greater demand for petrol vehicles
The latest ExpertEye Fleet Industry Review highlights a move towards petrol vehicles for UK fleet operators together with a growing demand for alternative fuels.
Produced in association with Professor Colin Tourick from University of Buckingham, ExpertEye’s latest review provides valuable insights into the latest status and views of the UK fleet marketplace. Despite Brexit now a certainty, coupled with the recent election announcement and news of changes to company car taxation in the Spring Budget, the UK economy is not showing signs of drastic change.
Based on a survey of over 200 fleet operators the findings include:-
- More companies are putting petrol-engined cars back onto their fleet lists, or drivers themselves have decided to opt for petrol.
- Respondents expect to see a reduction in diesel in the next two years, with electric, electric range-extended and hybrid engines gaining in popularity. A significant number of them believe that petrol will be making a comeback.
- Almost no respondents (the UK’s fleet operators) expected the economy to shift drastically either up or down but they are slightly less optimistic than before.
- More than half of respondents expected no change in demand for cars and more than three quarters expected no change in demand for LCVs. Of the few who expected demand to decrease, 20% said there would be decreased demand for cars (the highest level since H2 2013) and 7% said there would be decreased demand for vans.
- Contract hire remains the predominant form of finance used by businesses, though there has been a steady growth in respondents using finance lease and Professor Tourick suggests reasons for this in the Review.
- Reliability, fleet running costs and fleet safety and risk management remain top of respondents’ concerns as they ponder fleet management decisions they will be making in the next 12 months.
The ExpertEye Fleet Industry Review is based on a biannual survey of fleet operators which measures their practices and references attitudes and opinions on a wide range of issues:
- fleet profiles and policies
- the current economic and fleet environment
- factors influencing supplier and vehicle choice and
- Predictions about vehicle requirements and influences.
With trends going back 7 years this report contains a unique insight into the key factors driving fleet acquisition decisions including commentary and analysis from a leading industry expert. The Review contains a summary of the survey and analysis of the results provided by Professor Colin Tourick at the University of Buckingham, on behalf of ExpertEye ag.
ExpertEye offers extensive insight into the automotive market across Europe. Utilising research and key data from leasing providers, vehicle manufacturers, dealers, fleet operators and the drivers themselves, we provide the complete range of business feedback about all aspects of the leasing, buying, maintenance and renewal processes.
For more information please contact firstname.lastname@example.org
Car manufacturer Suzuki GB have gone public with the news that they are working with Colin Tourick to improve their fleet sales.
Click here for the news item.
The indispensable guide for UK fleet lessors, and in fact any British organisation that runs company cars, has just had its most recent update – the sixth edition of Company Car and Van Tax written by Colin Tourick.
The book, which is a supplementary publication to Tourick’s book on leasing and fleet management –Managing Your Company Cars – sets out the detailed tax rules, rates and allowances for 2016-17 and will be of interest to all fleet managers, fleet industry professionals or even employees who drive company cars, or their own car, on company business.
In addition to being a complete update on detailed tax rules, rates and allowances, contents range from car sharing to the more complex world of salary sacrifice schemes.
Tourick explained that the book is based on the Budget presented to Parliament by the UK Chancellor of the Exchequer on 16 March 2016.
Colin Tourick is a management consultant specialising in vehicle leasing and management. He has worked in senior roles in the leasing industry since 1980 and for the last 13 years has worked for some of the world’s largest banks, motor manufacturers and vehicle leasing companies.
He is a co-founder of the International Auto Finance Network, which runs conferences, carries out research and runs awards programmes for the fleet and auto finance industries. He is the Grant Thornton Professor of Automotive Management at the University of Buckingham.
Company Car and Van Tax is available from Amazon, tourick.com and all good bookshops. 80 pages.
[Original article here]
THE definitive book on company car and van tax has just been updated by that supremo of the spreadsheet, calculator and keyboard – Colin Tourick.
Called Company Car and Van Tax 2016-17, this is the sixth edition written by company car tax expert Colin Tourick, and takes into account the tax changes from April 2016. So if you manage company cars for your SME small fleet or are a company car driver, then this book will answer all your questions.
“Unfortunately there are no votes to be lost in taxing company cars, so successive governments have relentlessly cranked up the tax on business car drivers and their employers. This books explains the rules and will hopefully help you to minimise the this aspect of your tax liability.”
In Company Car and Van Tax 2016-17 Colin covers:
- car benefit tax
- fuel benefit tax
- income tax
- corporation tax
- capital allowances
- fuel duty
- vehicle excise duty and
- national insurance contributions
See what I mean?
Regular readers of Business Car Manager will already know that Colin is our de facto company car tax expert, providing much needed advice on a range of subjects, as well as serving as a judge on our SME Company Car of the Year Awards.
The book will be available from Amazon.co.uk and any good bookshop from 26 May and can be ordered now from www.tourick.com. The cost is £40, published by Eyelevel Books.
Company Car and Van Tax 2016-17 by Colin Tourick is published in association with Ogilvie Fleet, Toomey Leasing Group and Grant Thornton.
[Original article is here]
You can download presentations from the November 2015 International Auto Finance Network conference here.
Quote published in Asset Finance International
Colin Tourick, co-founder of International Auto Finance Network and founder of Colin Tourick & Associates said:
“This is the first revelation that could substantially dent VW’s fleet sales. If company car drivers think that VW’s CO2 emission figures are understated it might make them opt for another manufacturer when choosing their next company car. VW needs to clarify this issue rapidly to avoid any damage to sales”.
The International Auto Finance Network will be running its fourth conference for the auto and fleet finance market on 12 November 2015.
Full details available here
Grant Thornton’s Automotive Messenger – includes Budget commentary from Colin Tourick. http://bit.ly/1I40bjB