New research has revealed that a growing number of fleets are becoming aware of the cost benefits of electric vehicles…
Cost Benefits of EVs
Research conducted by the Arval Mobility Observatory Barometer suggests that fleets are becoming increasingly aware of the cost benefits of adopting electric vehicles. It found that reduced fuel expenses have been named as the leading factor in pursuing electrification. Indeed, 66% of fleets cited this as their primary motivation. The figure has risen from 54% back in 2021. Tax incentives were cited by 58% of the respondents, too. This rose from 40% last year.
None of this is to say that fleets are exclusively interested in cost benefits. Indeed, an increasing number of fleets are becoming cognizant of the environmental advantages of electrification. For instance, 54% of the respondents mentioned the vehicles’ green credentials – meaning they’re the third most cited reason for fleets adopting EVs. Cost of ownership took fourth place (41%), whilst company image benefits took fifth place (37%).
‘Increasingly Knowledgeable’
Shaun Sadlier, head of Arval Mobility Observatory in the UK, commented on the research. He said, “it clearly shows that as operational experience of electrified vehicles grows, fleets are increasingly knowledgeable about the real-world potential and financial benefits of their adoption. In fact, more than four out of 10 fleets now show an awareness that electrified choices offer a total cost of ownership in line or lower than petrol or diesel alternatives, a key point that is only likely to become more pertinent as oil prices continue to increase”.
He added, “another factor that has seen considerable growth is that employees are increasingly pushing for electrified vehicle adoption, up to 42% in this edition of the research compared to 29% last year. Staff enthusiasm for electrification is a key enabler of rapid change in many organisations”.
Sadlier also noted that the UK seems to be more enthusiastic about EVs than other European countries. He explained, “these percentages represent nearly double the rate of adoption compared to the 19 other European countries that we survey, and it applies to all electrified cars and all rates of adoption. The UK is very much amongst the leaders on an international basis when it comes to car fleet electrification”.