GE Capital research: Company cars grow in importance

The importance of company cars as a business tool has increased among employers in the past two years, according to the quarterly Company Car Trends research by GE Capital, Fleet Services.

For essential car users, the perceived importance of the company car is now rated on aggregate almost nine out of 10 (10 is highly important) compared to eight in quarter three of 2010 and seven in quarter three of 2009.

Before the recession, in quarter three of 2007, the response was as high as 9.7.

Gary Killeen, commercial director for GE Capital, Fleet Services UK, said: “What the research indicates is that since the technical end of the recession towards the end of 2009, the company car has become quite markedly more important to UK employers and their employees.

“There are a number of reasons for this, we believe. Key among them is a recognition that the company car remains the best business transport solution available at a time when costs are being closely scrutinised and achieving real world results is essential.”

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