Business grey fleets are likely to be experiencing something of a lag when it comes to EV transitioning, thanks in part to the levels of driver hesitancy we are seeing emerge.
The phenomenon known as grey fleet refers to fleets comprising employee-owned vehicles, rather than company cars. The pandemic has seen grey fleets surge in popularity, as businesses strive to cut costs. There are now around 14 million grey fleet vehicles on UK roads.
However, grey fleets present an environmental headache for managers striving to reach sustainability goals, thanks to the lack of control over the type of vehicles purchased and owned by employees. Indeed, a recent policy paper from the Urban Mobility Partnership found that a grey fleet reduction is critical to decarbonisation plans for both public and private sectors (May 2022).
New AA research shows that one in ten used vehicle drivers are putting off updating their vehicle. Indeed, 9% of drivers with models aged more than four years old are holding off swapping their car for an EV until the ‘right time’. The most common reason drivers are choosing not to upgrade is that they don’t feel the need for a new one (63%). Meanwhile, younger drivers were significantly more likely to be waiting for finance or a loan to end before they upgrade their car (11% of 25-34-year olds) than older drivers.
Stuart Thomas, Director of Fleet and Accident Management Services at the AA.