What van buyers want most: reliability

21st May 2013

What van buyers want most: reliability

Reliability is the most important factor for van buyers when making their next new purchase, ahead of fuel consumption and payload capacity, according to a survey by GE Capital Fleet Services.

The Company Van Trends survey asked 250 van fleet operators running light commercial vehicles, when making your next LCV purchase, what are the key considerations?

Predictably, fuel consumption was ranked second.  But the real surprise was residual value – it came a lowly seventh.

Average rating

Reliability                                                                               2.4

Fuel consumption                                                               2.7

Payload capacity                                                                  2.9

Making a like for like replacement                                   4.8

Cost of damaged and replacement parts                      5.3

The power unit                                                                     6.0

Residual values                                                                  6.3

Availability of bespoke/extra equipment                          6.3

“The research reveals that operational concerns are front of mind for van fleet managers,” Simon Cook, LCV commercial leader for GE Capital UK, said.  “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.

“It is very much a picture of practicality.  Van fleets are expected to deliver and van fleet managers are focussed entirely on doing so.”

Commenting on the low ranking for residual values, he said: “This is a reflection of the differing life cycles of company cars and vans. Other parts of our research indicate the way in which van fleets appear to be holding on to vehicles for longer. While four year cycles are still the most popular option, five, six, seven and even eight year fleet lives are now common and 11% of fleets even hold onto their vans right to the end of their useful life.

“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.”