Commonly for gasoline, diesel, and other fuels at gas stations a card that is used as a payment card is known as Fuel card. Fuel cards can also be used to pay for vehicle maintenance and operating expense at the prudence of the fleet owner or manager. Fuel cards are sole due to the opportune and comprehensive reporting that convoy their use. Fleet cards facilitate fleet owners/ managers to receive real time reports and set purchase controls with their cards helping them to stay conversant of all business related expenses.
Ken Research in latest study on “Fuel Cards in Austria 2016” says Austria’s small but well-developed wealth is highly globalized, sustained by a skilled labor force, gung ho manufacturing, and a large service sector. Openness to global trade and investment is firmly institutionalized, and the relatively resourceful entrepreneurial scaffold strengthens competitiveness. Protection of property rights is traditionally sturdy, and the legal system is see-through and steadfast. Anti-corruption measures are efficient. The corporate tax rate is comparatively low, but individuals face a 50 percent income tax and various indirect taxes. Austria’s in general fiscal provision compares sympathetically to those of its euro zone neighbors, but public expenditure has become excessive and unsustainable. Public obligation has reached a post-war high above 85 percent of GDP.
The market intelligence of Ken research states that the total number of service stations in Austria increased by 0.7% in 2015. Over 7,000 new fuel cards will be issued between 2016 and 2021, totaling to 618,064 cards in the market. Fleet card volumes will increase by 2.9% between 2016 and 2021 to total 880m liters by the end of 2021.The top five fuel card operators made up 78.1% of fuel card volumes in 2015. The reasons for such growth is the desire for better fuel efficiency and the confidence of the population in the legal framework of the country as it is highly transparent fuel cards are actually making a dent in the market due to its anti- theft measure that protects the individuals property safe. The other reasons for such growth are tax incentives for company cars will be abridged from 2016 onwards. Motivated partly by the idea of compensating workers for costs outside their control, these subsidies in effect encourage private car use, long-distance commuting and urban sprawl, to which housing subsidies also contribute (OECD, 2013c). This compounds the increased fuel consumption and due to the large and improved connection this trend is on the brink of being a need for the population. The use of fuel cards with the linked accounts through the application based technology has provided the customers with the ease and availability of the information and analytics of their vehicles more conveniently.
The growth in fuel cards in Austria is due to the reduction in fuel taxes for company cars which will increase the fuel consumption and thus with the widespread network of gas stations and the convenience of the customers such as low paper work, app based handling and optimal safety of the vehicle in vulnerable circumstances fuel cards are set to increase in Austria.
The key players in the Fuel cards industry of Austria are Shell BP Esso DKV UTA TOTAL Q8 Agip (Eni) ROUTEX AS24 Aral OMV,Genol IQ Teboil Neste EKO-ELDA AVIN Jetoil.
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