Regional trends affect the global fleet market, according to research.
A recent Roland Berger study shows that the European fleet market is domestically saturated. Western OEMs are struggling to grow their market share in Germany, the UK and Spain where existing fleet business sales account for 62%, 54% and 48% respectively.
China is currently showing fleet volume figures of only 9% of the national car market according to the research, with India and Russia both taking a 13% share. This indicates a significantly greater market growth opportunity across the BRICs countries as well as other emerging markets.
Marketing strategies
However, according to Marcus Hoffmann, partner at Roland Berger Strategy Consultants, Western OEMS “need the right market strategies tailored to each country. European business models cannot be transferred directly to these markets,”
With a predicted 20 million more new cars sold globally by 2019, a precise understanding of regional markets will be essential.