BIK tax advantages prompt rise in EV salary sacrifice deals

Low tax rates on electric vehicles (EVs) has resulted in surge in employers offering salary sacrifice to non-company car drivers, with new research showing over half (53%) now doing so compared to 39% in 2020. According to the 2021 Arval Mobility Observatory Barometer, which looks at the current trends affecting company cars and vans across the UK and Europe, last year just a fifth (20%) of fleets said they were offering some form of finance solution, but this has now also risen steeply to more than a third (37%).

BIK tax advantages prompt rise in EV salary sacrifice deals

Jul 15, 2021

Low tax rates on electric vehicles (EVs) has resulted in surge in employers offering salary sacrifice to non-company car drivers, with new research showing over half (53%) now doing so compared to 39% in 2020. According to the 2021 Arval Mobility Observatory Barometer, which looks at the current trends affecting company cars and vans across the UK and Europe, last year just a fifth (20%) of fleets said they were offering some form of finance solution, but this has now also risen steeply to more than a third (37%).

Call for business and government to accelerate switch to electric fleets

Transforming fleets is the key to accelerating take-up of electric vehicles (EVs) and increasing the size of the used EV market, according to a global report from international non-profit the Climate Group. The analysis, which was carried out in partnership with sustainability consultancy SYSTEMIQ, indicated businesses and governments can grow used EV market by 40% in 2030 by transforming fleets.

Call for business and government to accelerate switch to electric fleets

Jul 14, 2021

Transforming fleets is the key to accelerating take-up of electric vehicles (EVs) and increasing the size of the used EV market, according to a global report from international non-profit the Climate Group. The analysis, which was carried out in partnership with sustainability consultancy SYSTEMIQ, indicated businesses and governments can grow used EV market by 40% in 2030 by transforming fleets.

Charging stations sticking point for EVs

Enthusiasm for electric vehicles (EVs) is growing strongly, but the current lack of charging points is a key issue for fleets considering making the switch, according to research by Arval. Findings from the latest Arval Mobility Observatory Barometer show almost six in ten (59%) of the fleets which are not considering implementing EVs named a lack of public charging infrastructure as the top barrier to their adoption.

Charging stations sticking point for EVs

Jun 29, 2021

Enthusiasm for electric vehicles (EVs) is growing strongly, but the current lack of charging points is a key issue for fleets considering making the switch, according to research by Arval. Findings from the latest Arval Mobility Observatory Barometer show almost six in ten (59%) of the fleets which are not considering implementing EVs named a lack of public charging infrastructure as the top barrier to their adoption.

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Europe

Used car sales fuel 20.7% net income rise for ALD

Jun 16, 2021

Leasing group ALD has reported a 20.7% year-on-year increase in net income (group share) in its quarter one results, totalling €155.5m. In the accompanying trading update, the firm noted “very strong” used car sales, which totalled €38.2 million from 87,000 units and average per-unit profit of €439. Leasing contract and services margins were up 1.5% to €328.1m, operating expenses increased by 1.1% and cost of risk fell by €9.1m to €8.7m.

Americas

PACCAR Financial Services reports record revenues

Feb 06, 2020

Assets at PACCAR Financial Services reached a record $16.07 billion last year as its portfolio grew to 208,000 trucks and trailers. The results include PacLease, a major full-service truck leasing company in North America and Europe, which has a fleet of more than 40,000 vehicles. PFS revenues were a record $1.48 billion in 2019 compared to $1.36 billion in 2018. Last year’s pre-tax profits were $298.9 million.

Asia Pacific

SG Fleet widens service offering in Australia through strategic investment in car subscription provider Collaborate

Dec 16, 2019

Vehicle leasing company SG Fleet has bought a stake in Australian mobility specialist Collaborate Corporation for $2.2 million to widen its service offering. Collaborate’s core businesses are its car subscription service ‘Carly’ and a range of peer-to-peer vehicle rental offerings. With Carly, users pay a monthly subscription fee to access any vehicle from the entire fleet available.