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Fuel Costs

As the global economy continues to grapple with inflation, fleet companies are feeling the impact on their bottom line. Many fleet managers are asking how to reduce fleet costs in today’s environment. Inflation affects fleet companies in a variety of ways, from increasing fuel and maintenance costs to raising insurance premiums. It is crucial for fleet companies to implement effective cost management strategies to maintain profitability and remain competitive in today's market.

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Fleet Budgets Strain to Cope with Increasing Fleet Costs

Fleet costs are up across the board due to inflationary pressures. Acquisition costs have increased with minimal offset from fleet incentives. Interest rates are higher, impacting the lease vs. buy decision and companies requiring outside funding to replace vehicles.

How Drivers Can Improve Fuel Efficiency

By knowing and practicing some driving and maintenance tips, drivers can increase their trucks’ gas mileage, boost their vehicles’ overall performance, and save money for the company.

Forecast: Fleet Costs Will Continue to Escalate

Fleet fixed and operating costs are increasing across the board, in particular fuel prices, higher acquisition costs, lower incentives, and unscheduled maintenance expenses. The forecast is for fleet expenses to increase for the next three years.

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