Reliability is key for new van buyers, says GE Capital

Date: Thursday, March 28, 2013

Reliability is the most important consideration for operators when buying new vans, according to the first edition of GE Capital’s quarterly Company Van Trends survey.

Fuel consumption was the second most important factor for the 250 LCV fleets quizzed with payload capacity the next most pressing concern.

Operators also rated highly their ability to make a like-for-like replacement and were mindful of the prospective cost of damaged and replacement parts when choosing new vans. Choosing the appropriate powertrain for their usage was important for customers but residual values and the availability of extra equipment were of relatively low importance for buyers.

Simon Cook, LCV commercial leader for GE Capital UK said: “The research reveals that operational concerns are front of mind for van fleet managers. They want vehicles that can carry good loads, are going to start every morning, not need constant refuelling and which can be easily and cheaply repaired.”

Cook said the research indicated that operators were most concerned with the day to day practicality of their vans. He suggested residual values were not a major influence on purchasing decisions because many fleets were holding onto their vans for longer than the usual four-year cycle.

“In this longer term scenario, residual values stop becoming a major consideration because of the relatively low actual market values when the vehicles come to be sold. Day to day running costs, especially the repairs that keep older vans running, are much more important,” Cook said.

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