Despite the growing popularity of short-term rentals, fleet mobility company Alphabet recently released a report showing that 54% of consumers fear the hidden costs in leasing arrangements, and that younger target groups are expressing a desire for shorter contract periods.
The report, entitled Europe on the Move, examined a variety of current mobility trends and provided an outlook on the future. It found that the younger generation generally exhibits a strong need for flexible mobility options and as such are more willing to lease vehicles (38%), although it would appear that overall German and Spanish drivers are the most-keen to lease their vehicles at 55%.
Misinformation and personalisation
Around half of of respondents were unaware of the possibility of taking over the car after the contract period expired, with Germany seeing the best-informed consumers with 66% being familiar with this option.
Furthermore, drivers in Spain proved to be the most willing to take out a private lease at 43%, whereas those in France in the UK are the least willing, standing at 22% and 26% respectively.
It was widely accepted that a variety of services should be included in a leasing contract with the ability to almost personalise it, with 78% of drivers seeking maintenance and repair as an extra, making it the most desired service included in a leasing contract.
However, extra services do not always come free of charge, and drivers in the UK and Germany proved most willing to pay for these additional services, along with those aged 25 and under.
Nearly two-thirds of German drivers were more likely to accept a used car, and were willing to accept the longest contract period. In contrast, Spanish drivers typically opted for shorter contracts and 54% of drivers preferred a new vehicle.
In terms of additional services within a leasing arrangement:
- 73% of drivers looked for roadside assistance;
- 70% wanted some form of insurance
- 69% desired accident management
- 66% searched for tyre management
Alphabet recognised as UK top employer
Alongside the news of its new report, Alphabet announced that it has been awarded the Top Employers UK 2020 certification for the seventh consecutive year.
Awarded by the Top Employers Institute, the company earned a place among a select group of certified companies worldwide. The Institute assesses participants through the completion of an HR best-practices survey in which organizations must achieve the required standards in a number of key areas in order to achieve certification.
The survey includes more than 100 questions, covering 600 ‘people development’ practices across 10 topics such as workforce planning, performance management and leadership development.
Stefan Oswald, chief financial officer at Alphabet, said: “Attracting and retaining talent has always been key, but equally important is engaging our employee community with our company’s core purpose to deliver successful business performance, enhanced customer experience and improved customer satisfaction. So, this award is recognition for the personal contribution and commitment of all of our 400 plus employees working in the UK and the significant value they add to our business and to our customer relationships.”
