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ACFO conference speaker Kevin Gaskell from car value expert EurotaxGlass's warned the assembled fleet managers not to blindly accept lease contract extensions because it could affect staff morale.
Gaskell warned that staff retention would become an issue as soon the jobs market picked up, because having a five year old company car was not an incentive to stay with a firm.
He illustrated his point by saying: "I've never had someone say 'it's okay, I don't need a new car'."
Speaking to BusinessCar after the ACFO event he added: "I was at a recent event where John Lewis stood up and told the audience that his members were seeing contract renewal rates running at 30% against 10% in a normal market."
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