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Vehicle fleet cost set to reduce; new Ford Transit plug-in hybrid electric vehicle on sale from 2019; chance to plan ahead with Portman Transport and Logistics Finance

FLEET Management costs are set to fall for businesses across the UK thanks to the emergence of Ford’s first plug-in hybrid electric van.

The new Ford Transit Custom will continue to use a diesel configuration, akin to its current output, but complemented by the new PHEV model that will be able to run on zero-emissions driving range of 30 miles.

Powered by a 14 kWh liquid-cooled lithium-ion battery pack and supported by Ford’s existing 1.0-Litre EcoBoost engine, which will act as a range extender facilitating up to 300 miles worth of travelling capacity, the car will use a series-hybrid driveline configuration, ensuring that the front wheels are only driven by the electric motor.

Charging times range from three to five hours — depending on whether the domestic 240 volt 10 amp power supply is used, or commercial 240 volt 16 or 32 amp supply is chosen — with access to the socket found within the front bumper.

Save on your vehicle fleet costs

Ford’s diesel and other vans with non EV powertrains incur the £250 standard tax rate for vans in the UK, but with the PHEV Transit and others like it, there is no charge for your fleet of vehicles.

Portman has delivered asset finance for companies across the UK, which has preserved working capital and ensured that investment actually makes businesses money.

The Congestion charge will be eliminated, too, while fuel costs will be significantly reduced thanks to the 1.0-Litre EcoBoost engine acting as a range extender and not a part of the powertrain.

Although not as lucrative as the new PHEV Transit Custom for a business’ fleet, the new model will feature a 2.0-Litre EcoBlue diesel engine.

The new configuration will feature hybrid technology for the first time and a 182bhp engine, but will not enjoy the same incentives offered by HMRC that the transit does – although the incentives to utilise Portman remain thanks to their ability to finance any asset, soft or hard.

Transport fleet costs can be slashed with the plug-in hybrid Ford Transit Custom

PHEV Ford Transit Custom on transport asset finance will save businesses thousands of pounds across an entire fleet.

Now is the best time to update your fleet and take advantage of Government incentives

Incentives encouraging businesses to add EV or PHEV cars to their lineups are ending in 2022, with BIK (Benefit-in-kind) taxation levied at just 20 per cent of the rate for businesses using standard vans for domestic use.

The incentive will continue to decline until it is brought into alignment with the standardised charge of £3,350 per-vehicle, ensuring the benefits of using asset finance are finite in this instance, so urgency is encouraged.

Investment in new hard assets can be cost intensive, but asset finance provides 100 per cent tax-deductible solutions to lower costs and ensure working capital is preserved for UK businesses.

Adding to and refreshing a company vehicle fleet will pay for itself while paying for an asset/s monthly.

Even if a business has the funds to pay for new vehicles, such as the new Ford Transit Custom PHEV, using asset finance lease agreements will actually save money and ensure cash flow is not affected.

The transport asset finance solution

Portman Asset Finance provide flexible PCP, lease, refinance and commercial loan arrangements, with fixed-rate agreements starting at 2.5 per cent.

It is possible to get transport asset finance into your account in well under three days, ensuring businesses that rely on efficient vehicle logistics are able to maintain optimal levels of productivity.

Portman Asset Finance