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Germans dominate the UK's favourite company cars
Lex Autolease’s survey of 3,000 business drivers reveals that the BMW 3-Series is the nation’s favourite company car, followed by three other German stalwarts: the Audi A4, VW Golf and Mercedes C-Class. Only the Honda Civic, manufactured in the UK, breaks into the top five.
Ranking their own company car on a range of factors from badge appeal to reliability, tax and fuel efficiency, the survey reveals the switching tastes of business drivers.
Chris Chandler associate director at Lex Autolease, says: “The German badges may be more expensive in list price terms, but that only tells half the story. The modern company car driver is looking for a tax and fuel efficient car, but is not prepared to compromise on other desirable features such as performance, handling and comfort.
“Company car drivers are tough customers; they know their cars, spend a lot of time in them and are careful with their money, but these cars are viewed as representing great value.”
Lex Autolease says that the holy trinity when it comes to choosing a company car is tax (Benefit in Kind or BIK), fuel efficiency and CO2 emissions. In fact, all three are interlinked which is why manufacturers are increasingly competing on environmental performance measures. The new BMW 3-Series, for example, has broken the sub-110g/km barrier with a 2-litre engine achieving 68.9 mpg (combined).
Chris Chandler continues: “The road tax system is now geared towards encouraging private motorists to choose cleaner cars, in the same way that company cars have been for years with Benefit in Kind tax.
“Choosing a greener vehicle is not just a gesture, it’s a necessity. Low CO2 cars are more cost effective in tax terms, but they’re also likely to be more fuel efficient. This makes their whole life costs while in service much cheaper for the driver and employer.”
Lex Autolease also says when these vehicles are eventually sold on the used car market they are in high demand and retain more of their value. The company also points out that this is why the monthly lease costs are, relatively speaking, more appealing.
Chris Chandler concludes: “The company car is a benefit usually taken in lieu of salary, so these drivers are just as cost conscious as private motorists, even though they don’t own the vehicle. The market is fiercely competitive, drivers spend a lot of time researching their choices and only the best all-round cars make it onto their shortlist.”
