Recent findings from Cap HPI's Insight report reveal a noticeable change in the company car market, with plug-in hybrid electric vehicles (PHEVs) increasing their share significantly.
In the opening months of 2024, PHEVs nearly doubled their market share, climbing from 14% at the onset of the previous year to 26.6%. Concurrently, battery electric vehicles (BEVs) saw a reduction in their fleet market presence, decreasing from 44.5% to 35%.
The report also notes a decline in the market share of traditional diesel and petrol vehicles, which dropped to 4.5% and 28.1%, respectively, indicating a continued shift towards electrification in company fleets. This trend underscores the evolving preferences of businesses towards more sustainable and efficient vehicle options, albeit with a growing inclination towards hybrids over purely electric models.
