Mobility models drive growth opportunities
New mobility models such as electronic vehicle (EV) leasing and used car leasing are set to transform the global fleet leasing market and create growth opportunities.
Frost & Sullivan expects demand to be driven by operational leasing, which is predicted to account for 30.3% of company cars sold in 2018. Emerging countries such as Ukraine (33.6%), Russia (19.6%), Croatia (15.3%), and Hungary (12.6%) will top year-on-year growth rates in fleet leasing sales.
‘Fleet accounts for 12.8% of global vehicles in operation with 91.2% recognised as true fleet volume. Only 19.5% of this true fleet volume is leased- this represents a huge growth opportunity as usage rises’, said Abishek Narayanan, mobility industry analyst at Frost & Sullivan. ‘Europe has the largest company car market globally with 33.8% of total company cars on roads. Out of the company cars in Europe, 40.4% are leased, which is the highest across regions.’
To be successful in a consolidating market, Abishek recommended providers focus on offering customers full-service operational leases with added features like flexibility in duration, vehicle swapping, and more.