July 25, 2022
Fleet Managers Have Low Confidence in Getting All Vehicles Ordered in 2023-MY
The 105th State of the Fleet Industry video produced by Automotive Fleet offers insights into the state of the fleet market as presented by AF Editor Mike Antich.
🎙Today's topics include:
- Fleet managers need to order more vehicles for the 2023 model-year because of the difficulties in sourcing replacement vehicles in the past two model years.
- Ordering constraints due to a controlled allocation system and early closure of order banks due to high order volumes quickly depleting fleet allocation is making fleet managers cynical as to whether they will get all of the vehicles they ordered for the 2023 model-year.
- The shortage of fleet vehicles is beginning to impact the hiring practices as some companies where the vehicle is an integral part of an employee’s job.
- With higher invoice prices for new vehicles and reduced fleet incentives, some fleets estimate that they have experienced a 5% increase in overall total cost of ownership.
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⌚ Timestamps ⌚
0:29 Vehicle availability affects fleet ordering
0:43 Controlled allocation system and order bank closures making fleets cynical
2:21 Impact on hiring practices
2:42 Higher prices and reduced incentives increases TCO