Passenger cars in the European fleet market are expected to blossom over the next five years, despite potential declines for the segment in the United Kingdom as the result of Brexit.
Company cars make up for almost a quarter (24.2% in 2018) of all passenger car sales in the EU-5 markets, waccording to Dataforce. This markets include France, Germany, Italy, Spain and the U.K. However, following the Brexit vote, Europe’s largest true fleet market’s annual volume will shrink by 160,000 new registrations when compared to the 2016 peak. To put this figure into context: 160,000 new registrations are almost the equivalent of the Dutch true fleet market.
The automotive brands that are expected to see the largest growth in 2020 are BMW, Peugeot, and Audi, according to predictions from Dataforce. Conversely, Nissan, Ford and Opel/Vauxhall are expected to suffer from their strong dependency on the British market.
In terms of percentage growth, two brands, Tesla and DS Automobiles are expected to double their true fleet market sales and they are followed by Lexus who are expect to expand their European fleet business substantially.