The study is based on data from macro-economic and company sources as well as interviews with senior-level contacts in the industry. It includes analysis of relevant economic indicators – such as GDP and employment – and more sector specific drivers such as new company car registrations, company car parc, company attitudes to car leasing, hold periods, residual values and regulation relevant to the sector. The analysis of historical trends and forecasts is anchored in this information.
It is intended for decision makers in the industry themselves as well as private equity and other investors, banks, analysts, consultants and other parties with interests in the industry.
The study concludes that, having seen residual values and new registrations impacted by the economic downturn – though less then in the private car market – which caused the market to stagnate from 2007 onward, leading players have consolidated the top-end of the market, and industry revenues will start to recover from 2012.
Future growth appears supported by new company car registration numbers (though recent numbers are still not robust), improved residual values and slowly returning demand in the market. Analysis of past economic downturns and their impact on company cars provides optimism for the coming years.
However, some uncertainties remain, such as the risk that slow economic recovery with continued high unemployment could lead to companies postponing fleet decisions further, and for demand for ancillary services to remain depressed.
Furthermore, while the top end of the market is relatively consolidated, the mid-tier is still fragmented and many of the smaller operators – after a few difficult years - now find themselves targeting clients in an increasingly price competitive market.
Findings from the study are presented clearly and concisely with extensive use of charts and tables to illuminate points and support conclusions.
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