More than half of UK fleets are buying used cars for company use, according to leasing company Arval.

It said that data from its 2024 Mobility Observatory Fleet and Mobility Barometer research showed that 54% of UK fleets were now doing this, with a further 24% planning to do so in the next three years.

When asked what used cars were being used for, 78% of respondents said they were being used as pool cars, 66% as job-need cars, and 50% for benefit drivers.

The UK fleet used car figures are much higher than the Europe-wide averages, where 29% of fleets have used cars now and 38% are looking to adopt them.

Head of Arval's Mobility Observatory in the UK Shaun Sadlier said: "This is a new question for the Barometer in 2024 and shows the extent to which a majority of UK fleets have come to rely on used cars as an element of their fleet composition.

"While we have no historical data for comparison, our view is that this has probably always been something that businesses have done to some extent but that post-pandemic issues, especially much reduced new vehicle supply, have pushed more of them towards having to buy used, simply to get hold of the cars they need.

"Our findings show that the ways in which these used cars are being operated are overwhelmingly practical. They are being employed primarily in pool and job-need car roles where the 'newness' of a car is less of an issue, and less often where the car is part of a motivational benefits package."