SOGO has marked its first anniversary with record growth in December. The company signed 1,200 new contracts with electric vehicles accounting for 30% of orders.
The green mobility provider offers customers ultra-flexible terms with monthly leasing on cars and vans. It has teamed up with BP to operate a carbon-neutral fleet across petrol, diesel and EVs. It joined energy giant BP’s Target Neutral programme to help fleet customers measure, reduce and offset their carbon emissions.
Managing DirectorKarl Howkins said: “We are seeing two main factors drive our growth. Firstly, companies are seeking greater flexibility in managing their mobility requirements as the pandemic continues to provide challenges. Secondly, our model allows them to test a range of EV product to understand its suitability for different scenarios.”
SOGO saw the number of EVs on fleet grow to 40% throughout 2021, with an average lease term of six months. Commercial vehicles accounted for 43% of orders in December and continue to provide a strong growth area as last-mile logistics and the construction sector drive demand.
In a year of innovation, SOGO launched a range of initiatives that included a salary sacrifice scheme that offered access to a wide range of vehicles on monthly terms. It also helped drivers stuck in long-term leases and finance agreements with a new equity release scheme that allowed them to move to SOGO’s more flexible model.
Howkins added: “We are pleased with the progress we’ve made in our first year. Our approach is built around the needs of the customer, and we are leading the transition to net-zero. There is no doubt the beneficial tax environment is helping to push record numbers into EVs, and certainly the positive impact on salary sacrifice schemes is notable. We will continue to innovate to help companies meet their mobility needs efficiently.”
SOGO gained international recognition in its first year of business when it was named a runner up in the Motor Finance Europe Awards and it also ranked 41 in the FN50.