Liquid Fleet is planning to transition its growing fleet to plug-in hybrids electric vehicles (PHEVs) and battery electric vehicles (BEVs) over the next couple of years to reduce its customers’ carbon footprint.

The vehicle procurement and fleet management business said it’s being hit by reduced residual values on lease and rental cars not serviced to strict OEM service intervals.

Drivers who do not have their lease or rental vehicle serviced on time are costing thousands of pounds in lost residual values, according to Liquid Fleet.

The fleet procurement and management company, which offers rental services as well as contract hire, said the versatility of seven seaters makes them popular as rentals while their rarity contributes to strong residual values.

Fleet Procurement and management company Liquid Fleet reported record used car sales in the first quarter of 2024 selling almost 450 units through its remarketing network.

Liquid Fleet has reported an upturn in customers addressing grey fleet issues by onboarding short-term lease cars as part of a pool car arrangement.

Many parts of the automotive sector have experienced more changes in the last four years than the last four decades thanks to the global pandemic.

Vehicle procurement company Liquid Fleet has reported increased demand from its clients for such a set-up, which it said delivers a number of benefits.