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Organizations and businesses running a fleet of any type or size can gain deep insights into operations using telematics data today. What began as track and trace technology has become so much more — but what’s next?
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If an employee threw trash all over the office floor, scratched the paint off the walls, broke the light bulbs, left holes and dents in the wallboard, and skipped routine maintenance on the copier until it overheated and broke, no manager would tolerate this abuse. Yet, that is exactly what some companies tolerate when drivers abuse their company-provided vehicles.
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Without a doubt, the top two challenges facing fleet managers are cost containment and safety. This pressure is emanating from senior management, mandating fleet managers reduce costs and minimize liability exposure.
Read More →The resale value of a used vehicle is determined by three factors: the unit’s age, total mileage, and overall condition. A used company vehicle in poor condition, because of driver abuse or neglect, will result in lost resale value or incur unnecessary reconditioning expense at auction. Here's what you can do to minimize vehicle abuse.
Read More →Fleet managers know that it's smart to focus cost-reduction efforts where the money is - depreciation and fuel. But, within these categories, there are savings that even experienced fleet managers often miss.
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Many of the dynamics in today’s market are eerily familiar to the resale value softness that occurred in the last decade, which ultimately peaked in 2002. At that time, year-over-year increases of off-lease vehicles entering the wholesale market exerted downward pressure on resale prices. It appears that we are on the same trajectory, with off-lease volumes peaking in 2016. What are you doing to prepare for these different market dynamics?
Read More →Fleet managers can focus too much on the price of the products and services they buy, which can leave some cost-cutting opportunities unexplored.
Read More →Setting a depreciation reserve when using an open-end, TRAC fleet lease isn’t high-level mathematics. But, it takes experience and careful analysis. When used vehicle markets are strong, should you deviate from the norm?
Read More →When selling out-of-service fleet vehicles to employees, companies need to ensure fleet policy is uniformly applied — without exception — and that all buyers are treated uniformly and consistently. If you are involved in individual price negotiations, it is prudent to document the sales process. Auditors want to ensure that policy is being enforced uniformly and consistently throughout the organization. Here's what you need to do to ensure you sail through an internal audit with flying colors.
Read More →If you asked fleet managers what the industry average is for personal use of company vehicles, most would say it is approximately 15-18 percent. But, is it? Most of us will agree that some drivers fudge their personal-use mileage, but no one knows by how much. There is a growing suspicion that personal-use mileage is far greater — perhaps substantially greater — than what the industry accepts as conventional wisdom.
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