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Press Release: UK Fleet Services Market Development Report

Released: December 2010

After researching the UK fleet services market development and taking into account various other factors the following conclusions can be drawn from MBD's report:

Market Review 2006-2010:

The value of the UK market for fleet serves is estimated to increase by a moderate 2% to £10.91 billion in 2010. Prior to that, the market value contracted by 6% in 2009 to a review period low of £10.66 billion, following a more moderate decline of 4% in 2008. This is largely a reflecting of the economic downturn, which has led to many companies not renewing their fleet vehicles and contracts, instead running their existing fleet for longer. Demand for company cars has also been negatively affected by rising redundancies and companies focussing on reining costs, thus fewer offering company cars as a perk. However, the market is projected to return to growth in 2010, reflecting moderate improvements in economic conditions and increased demand to replace ageing fleets, following maximum contract extensions in the previous year.

Market Forecast 2011-2015:

Although the economic recession is now officially over, the economic recovery remains fragile. The economic uncertainties are expected to continue to exert a downward pressure and hinder a stronger fleet services market development in the short-term. Indeed, the market for fleet services is anticipated to increase by a moderate 2% in real terms to £11.18 billion (at 2010 prices) in 2011, partly offsetting declines recorded during the most recent years. Between 2011 and 2015, annual growth levels in the fleet services market are expected to fluctuate between 1% and 3% in real terms. In the latter year, the value of the market is forecast to reach a peak of £12.14 billion (at 2010 prices), representing cumulative growth of 11% compared with 2010.

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