January 31, 2023
Fleet Costs are at Record Levels But the Full Impact Has Yet to be Felt
The 130th 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:
- Across-the-board fleet cost increases have hit record levels and promise to increase after sourcing availability increases.
- There are nine fleet costs at elevated levels. They are fuel, higher acquisition costs, interest rates, upfitting commodity volatility, unscheduled maintenance, collision repairs, higher maintenance/parts/ labor rates, short-term rental fees, and all incidental fleet costs.
- Today’s fleet dollars do not stretch as far as yesterday’s fleet dollars.
- With increased sourcing availability will come higher per unit expenditures, in addition to higher volumes currently restricted by an allocation system.
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⌚ Timestamps ⌚
0:24 Across-the-board fleet costs increases hit record levels and promise to increase after sourcing increases
0:36 The nine fleet costs at elevated levels
2:54 Today’s fleet dollars and stretching
3:06 Higher per-unit expenditures and volumes restricted by allocation systems