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In the years following the recession, U.S. economic growth has been "so modest that no sector has been overheated,” said William Strauss, senior economist and economic adviser at the Federal Reserve Bank of Chicago.
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Automakers should be able to increase global sales of fully autonomous vehicles to 33 million by 2040 from 51,000 in 2021 — the first year of significant volume, according to a forecast from IHS Markit.
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The used vehicle market should grow about 1% in 2018 bolstered by a federal tax cut and influx of utility vehicles, while new vehicle sales are expected to remain flat, according to Cox Automotive's senior economist.
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The National Safety Council estimates that more than 660 people could lose their lives on U.S. roads during the upcoming Christmas and New Year's holiday periods.
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A new vision of fleet management is emerging, helping to increase fleet managers’ perceived value to senior management.
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Self-driving cars, ride sharing, and other mobility services should slash sales of sedans by nearly 40% by 2030, as Americans become less reliant on vehicle ownership, according to a forecast from KPMG.
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Over the past several decades, the purchasing managers of yesteryear reinvented themselves into procurement professionals whose function is now viewed as a strategic asset that provides a competitive advantage to a corporation. Can fleet management, likewise, elevate its perceived value to a corporation, especially in the eyes of its senior management? I say yes, and the timing is right to do so.
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The stability of fuel pricing has been the No. 1 factor contributing to keeping operating costs flat in calendar-year 2017. Since fuel makes up the largest portion of fleet operating costs, it has helped keep a lid on overall fleet spend.
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The demand for replacement vehicles has already started, and experts say it will continue well into October, and possibly November, as insurance payouts are received.
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After more than 50 years in the industry, George Argueta is retiring. He predicts a decline in the size of sales fleets and of fleet departments’ influence.
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