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Citing the higher cost of crude oil, many major manufacturers of finished lubricant products increased prices from 5% to 8% in CY-2018. Plus, each model-year, more OEMs require the use of more expensive synthetic motor oils.
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Higher fuel pricing has been the No. 1 factor contributing to higher operating costs in calendar-year 2018. Since fuel makes up the largest portion of fleet operating costs, it has strongly contributed to the increase in total fleet spend.
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Kelley Blue Book has rated Volvo's XC40 as its best new model among its 2019 Best Buy award winners, which offer high value at purchase and during the ownership experience, according to the vehicle valuation firm.
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To get the pulse of the vocational truck and van market, I reached out to a wide cross-section of fleet managers around the country to find out what’s on their minds. Here’s a snapshot of what they told me.
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Warranty recovery costs are under greater scrutiny by vehicle manufacturers than they have been in the past, requiring accurate and complete maintenance histories to substantiate compliance with OEM maintenance requirements.
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Higher commodity prices are putting upward pressure on fleet prices for replacement tires. National accounts are no longer as willing to absorb the majority of price increases, which are between 3%-8% on select tire lines.
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Despite high build quality, vehicle maintenance costs are trending up due to increased advanced technology content, skilled labor shortages, higher tire prices, and more engines requiring synthetic oils and high-capacity oil pans.
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Fleet operating costs increased in 2018, primarily due to higher fuel prices and maintenance costs. Upward pressure on maintenance labor rates and higher commodity prices are impacting the cost of replacement tires.
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Telematics provider Spireon has published "Impound Storage Fees, a Billion-Dollar Problem," billed as the first report of its kind to address the costs to consumers, dealers, and lenders associated with vehicle impounds.
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The average cost to own and operate a vehicle is $7,321 for 10,841 miles per year not including parking charges, and $10,049 with parking charges.
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