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Higher fuel prices and maintenance costs, along with upward pressure on maintenance labor rates are a few of the factors increasing fleet operating costs.
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With the cost of fuel representing 60% of the total fleet budget, fleet managers are looking for opportunities to reduce expenditures ranging from rightsizing, route optimization, telematics, personal use, and modifying driver behavior.
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Fleets are being impacted by a variety of inflationary pressures ranging from higher acquisition prices due to the proliferation of onboard safety equipment, to increased material costs pushing up pricing on parts, upfits, and replacement tires.
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Fleet operating costs increased in CY-2019 due to higher PM costs, ongoing pressure to increase maintenance labor rates to address the widespread tech shortage, and higher prices for commodities to manufacture replacement tires.
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A lifecycle cost analysis that incorporates a work vehicle’s productivity can lead to greater fleet utilization and decreased fleet spend.
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More complex vehicle technology, higher labor rates due to the ongoing skilled labor shortage, higher tire prices, and increased use of synthetic motor oils are putting upward pressure on overall fleet maintenance costs.
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Replacement tire prices are driven by raw material costs, which in CY-2019 were less volatile, but higher nonetheless. Tire prices increased slightly higher than the rate of inflation, which was partially offset by improvements in tread wear longevity.
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Warranty recovery is more stringent requiring even greater documentation to support warranty claims. OEM loyalty and the availability of documented maintenance histories heavily influences post-warranty goodwill assistance.
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More OEMs are adopting more stringent motor oil requirements for new models increasing total PM costs, year-over-year, as more vehicles are required to use synthetic oils, which cost more than mineral-based oils.
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This road-user charge system uses a flat or variable rate fee to charge vehicles that drive in a specified area or zone within a city.
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