Company car loss needs cash compensation

Nearly three-quarters (70 per cent) of company car drivers would expect an increase in salary as compensation if their company car benefit is withdrawn.

Just 7 per cent said that removing the benefit wouldn’t have any impact on them, while 20 per cent would want to buy their current company car from their employer, according to the Lex Vehicle driving survey 2006.

When it comes to the make of car that employees want, the survey revealed that more than half (53 per cent) would prefer a model made by a UK manufacturer, while a quarter favoured Japanese models. American makes such as Ford or Vauxhall would be selected by 17 per cent of respondents.

Technology such as mobile phone hands-free kits, and satellite or GPS navigation systems topped the list of tools that would or do enable company car drivers to work more effectively – both were selected by 32 per cent of respondents. Just 2 per cent, however, believe that a speed camera detector would have the same effect on working practices.

Jon Walden, managing director at Lex, said: “The research highlights just how valuable employees rate their company cars, and how necessary they are today.

“We live in an age where people are much more free to move around in terms of where they work and they will look for a job that offers them more than just a salary.”

For more information please email Peter Knights at peter.knights@lvl.co.uk