Notably, the research found that 87% of current company car users and 63% of personal vehicle users would not consider another company if it did not offer a company vehicle.


The GE Capital Fleet Services survey polled drivers, who were divided between companies that provide company vehicles and companies that require drivers to use personal vehicles. A total of 64% of company vehicle users said their ability to drive company vehicles while on the job made them less likely to want leave their current role. Conversely, 61% felt that their lack of access to company vehicles would make them more likely to leave their current job.


Nearly all company car users surveyed (97%) stated that they prefer using a company vehicle provided either individually or via a shared pool. Far fewer personal vehicle users prefer using their vehicle for work (just 29%) with 64% stating that they would prefer their employer provided a vehicle for business use.


When asked about the benefits of company vehicles, respondents listed less wear and tear on personal vehicles as well as fewer maintenance expenses and a lower overall personal cost to drivers.


‘While it’s no secret that drivers prefer access to company vehicles, this data makes a clear case for how the benefits of a company car can be a determining factor in hiring and retaining employees,’ said Tim Mundahl, senior strategic consultant at GE Capital Fleet Services. ‘With the impact of not providing a company vehicle being felt in both human resources and on the bottom line, businesses should evaluate if a company-provided vehicle can better contribute to their combined cost-saving and employee retention goals.’