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The cost of fuel remains a tough line item to budget for. With prices currently at their lowest in years, what can fleet managers expect in the future?
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The recent drop in fuel prices has been as breathtaking as earlier run-up in prices. If sustained, these reduced fuel prices will begin to make a dent in overall fleet fuel expenditures.
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Fleet managers are reevaluating personal-use policies, programs, and charges and working to educate their drivers on the importance of accurate reporting.
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As a general rule when considering total cost of ownership (TCO), employees with high-mileage needs should be provided with a company vehicle; those with low-mileage needs should have their job function reviewed to determine if personally owned vehicles (POVs) would produce the lowest TCO through a business reimbursement program.
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This year, the survey has been broken into two parts. Part one rates how the FMCs are serving their fleet customers. Part two examines how fleet managers view their OEM suppliers.
Read More →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 walls, and skipped routine maintenance on the copier until it overheated and broke, no manager would tolerate this abuse. Yet, that is exactly what some fleet managers do tolerate when drivers abuse their company-provided vehicles.
Read More →Last August, the IRS announced areas it will prioritize for audits in 2014, one of which is fringe benefits, especially the personal use of company vehicles. Managing personal-use compliance is a headache. It is also expensive, with internal costs ranging from $35 to $75 per year per vehicle. Here's what you need to do to be prepared should your friendly IRS agent come knocking on your front door.
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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Personal-use charges are increasing in correlation with fuel prices. More fleets are reviewing current policies or instituting new ones.
Read More →Automotive Fleet needs your input! How does your company handle personal use of company-provided vehicles?Automotive Fleet needs your input! How does your company handle personal use of company-provided vehicles?
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