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.”