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This study details the size and shape of the company car (true fleet) market in Belgium with a focus on the actual development and growth potential of finance lease and operating lease within Passenger Vehicle (PV) and Light Commercial Vehicle (LCV) segments. The analysis takes into account historic data, current market conditions (PESTLE, key drivers/ restraints) plus insight and opinion from market actors in order to deliver a five year outlook on growth opportunities (2015–2019). In addition to market data (PV and LCV) for both New Registrations and Portfolio the study details actual competitor data (Portfolio) for the leading leasing providers in Belgium.
- Operational leasing
- Financial leasing
- Outright purchasing
Rise in Taxes Scales Down Fleet Leasing Market
The austerity measures of the Belgian Government to revive the economy have made cost savings a major purchase criterion among the public. Consumers are increasingly looking at adopting cheap mobility options, which will enhance the growth of the fleet and leasing market.
The Government has increased taxes such as value added tax (VAT), emission tax and sales tax on fleets to reduce budget deficits. This has caused a corresponding rise in the cost of leasing, hindering market growth. Additionally, the Government offers incentives such as tax rebate and loans at lower interest rates for the purchase of hybrid and electric vehicles (EV), encouraging the consumers to buy EVs rather than lease fleets.
Fleet operators are hoping to stave off competition by offering additional leasing options such as shared leasing and personal leasing. Focussing on fleet downsizing, maximizing fleet utilization and establishing partnerships with corporates will enable leasing companies to increase their market share. These measures will also help the leasing companies to strengthen their brand value among consumers.