Future of transport

We’ve seen a lot of change within the UK Transport sector in recent years. But what might future trends look like amongst fleet decision makers and drivers?

Our Future of Transport report aims to provide our customers and the wider industry with insights on changing travel behaviours and its implications for the environment, the economy and even the nation’s health and wellbeing.

It brings together the opinions, experiences and intentions of UK drivers and fleet managers, as well as the proprietary Lex Autolease Future of Transport Index - a confidence score that acts as a barometer for change in the types of vehicles people are driving on the UK’s roads. 

Our inaugural report revealed, that while petrol vehicles remain dominant on the UK’s roads, there is a seismic shift on the horizon, evidenced by a combination of the progress already being made to adopt new electric and hybrid vehicles, and drivers’ future purchasing intentions.

Summary of key findings:

  • 60% of British drivers are set to switch to electric and hybrid vehicles for their next car with the main factors encouraging the shift mostly related to cost of ownership and their environmental impact. 
  • Almost half (44%) of business fleet cars are already electric, compared with just 4% of privately-owned vehicles. 

But for now, petrol vehicles still receive the highest confidence score in the Lex Autolease Future of Transport Index.

The great British petrol phase out

Two fifths (40%) of those drivers set to switch are planning to choose a purely electric vehicle. While two thirds (66%) of our driver sample feel it is important that their vehicle helps to reduce their environmental impact as much as possible.

Drivers are also conscious going electric will help them avoid Ultra Low Emission Zone charges (35%) and unlock savings on overall running costs (34%) compared with their petrol and diesel counterparts.

Companies are leading the charge

When it came to our sample of fleet managers, almost half (44%) of fleet cars are already electric, compared with just 4% of privately-owned vehicles. 

Two thirds (66%) of businesses have grown the number of electric vehicles in their fleets over the last year, and the same proportion (67%) expect to do the same in the year ahead, by an average 19%. 

The reasons for going electric include employee engagement and recruitment (75%), hitting sustainability targets (67%), and because it supports sustainability credentials (57%). 

And the current cost-of-living challenges don’t appear to have driven them off course; almost half (45%) of fleet managers said they increased their investment in adopting electric vehicles as a result, with just 2% saying it had caused them to cut back. 

What our index says

Although the future is clearly electric, those considering making the switch expect they won’t get an electric vehicle for an average of five years.  

This sentiment is echoed by the Lex Autolease Future of Transport Index, which revealed that of the different transport technologies, confidence remains highest in petrol vehicles which have an Index score of 42, on a scale from -50 to +100.

To get more data on these themes and insight on how behaviours are changing, download the full Future of Transport report here