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Short and mid-term rental fleets' most popular mobility solution, Arval finds

Date: 01 July 2021   |   Author: Sean Keywood

Short and mid-term vehicle rental is the mobility solution finding most favour among businesses, according to research by leasing company Arval.

The latest findings from the firm's 2021 Mobility Observatory Barometer research revealed that 62% of respondents had implemented short or mid-term rental, or planned to implement it within the next three years.

This was ahead of other mobility options such as private lease or salary sacrifice (61%), ride sharing (56%), a mobility budget (56%), public transport (56%), corporate car sharing (55%), and an app to book mobility solutions (52%).

Head of Arval's Mobility Observatory in the UK Shaun Sadlier said: "This is perhaps a surprising outcome - on a list of innovative mobility solutions, the more traditional short and medium-term vehicle rental perhaps look unlikely candidates to be considered a leading option.

"However, it remains an excellent solution for any flexible, short-term business journey need. This is especially the case with mid-term rental, which is increasingly being used to bridge the gap between car or van requirements that are measured in weeks and months, and those that are measured in years - a requirement that may be growing as a result of the impact of the pandemic."

Sadlier said another striking aspect of the research was the wide range of mobility solutions that were being taken seriously by fleets.

He said: "On a list of seven possible choices, every single one was mentioned by 52-62% of respondents. This is clearly an area where there is considerable momentum."

Sadlier added that it was interesting to note the differences between planned adoption of mobility solutions and those already implemented.

He said: "Businesses are predicting that the implementation of various mobility solutions - such as car sharing, public transport, short or mid-term rental - will roughly double over the next three years. 

"This is interesting because it reveals that the pandemic appears to be having a limited strategic impact in the medium-long term. 

"Many mobility options rely on shared transport assets, which during the last year have been viewed as potentially increasing the risk of infection, but employers clearly don't believe this will be a problem beyond a certain point in time."

Sadlier also noted the differences the research found between smaller and larger fleets.

He said: "Planned adoption of mobility is much more pronounced among larger businesses. This is unsurprising. Mobility is very much part of a structured approach to corporate transport needs and bigger employers are bound to lead the way. 

"However, we don't believe that this means smaller businesses will be left behind, just that the implementation of these ideas will be a little slower among SMEs."