Search
Close this search box.
Sign up for our weekly Newsletter

Fleets worth over £19 billion to UK economy

Toyota fleet 800
Ignition's iFleet tool works with both big and small fleet

Share

28 October 2014

Toyota, Auris, fleet
The average amount fleets spend on running each vehicle is estimated to be £4,500 to £6,500 per annum

FLEETS in the UK are worth over £19 billion to the economy, according to a new investigation from Sewells Research.

The average amount fleets spend on running each vehicle is estimated to be between £4,500 and £6,500 per annum, based on figures supplied by hundreds of fleet operators, and with approximately 3 million fleet cars and vans on the road, the amount spent on running these vehicles is hugely significant.

Indeed, in comparison, the net value-add to the UK economy by automotive manufacturing is around £12 billion each year, according to the SMMT, £7 billion less than fleet spend.

Simon Staplehurst, Commercial Manager at Sewells Research and Insight, commented: “Any fleet manager will know how costs can quickly grow when looking after a fleet of vehicles.

“It’s widely accepted that the top 200 fleets are worth around £3 billion. These results show that fleets outside of this group are equally as valuable to the economy.

“Even with a conservative average spend of £5,000 per fleet vehicle, the value is £15 billion before any additional services, such as accident management, staffing and insurance are considered.

“It has long been accepted that fleet sales are a key piece of the UK economy, but the true scale has never been fully explored – until now.”

Share this article

Facebook
Twitter
LinkedIn
WhatsApp
Reddit
Email

Want more motoring news?

Sign up here for our free weekly serving of motoring.

Sign up here for our free weekly serving of motoring.

Latest news

Top