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A rise in UK business confidence has prompted firms to invest in more company cars before the end of the year, according to research from Lex Autolease parent Lloyds Bank.
The 'Business in Britain' research shows that 10% of the 1501 businesses surveyed identified investing in more company cars before the end of the year as a priority for growing their business.
Andrew Hogsden, senior manager, strategic fleet consultancy at the UK's dominant lease firm Lex Autolease, said: "Improved trading conditions are helping management teams to look 'above-the-parapet' and raise capital to invest in their businesses.
"It is encouraging that new company vehicles, which we see as a barometer for long-term market confidence, are back on their agenda."
The research also tracks the overall balance of opinion, weighing up the percentage of firms that are positive in outlook against those that are negative. The survey's key Business Confidence Index shows that firms are continuing to grow in confidence, driven by expectations of stronger profits, orders and sales over the next six months.
Since the last report in January 2014, the confidence index has increased by eight points to 53%, the fifth consecutive increase for the survey.
This was mainly driven by firms' expectations of increasing profits and has surpassed the previous survey high of 46% recorded in January 1994 - reflecting businesses' renewed optimism for the UK economy.
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