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.
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.
Fuel prices can make or break a fleet's budget, and as a fleet manager, being attuned to these fluctuations is not just advantageous; it's essential. So, where's the cheapest gas at?
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.
A report by car subscription provider FINN revealed the top 10 U.S. states with the cheapest gas, with Texas at the top of the list.
We’ve all heard that fleeting EVs will lower your “fuel” bill considerably compared to an ICE vehicle. But by how much, exactly? Here’s the formula.
As Q2 shows a decrease in fuel consumption, see what kind of impact this has on fuel prices and the industry in this video with Mike Antich.
Learn how higher fuel costs impact different aspects of the fleet industry in this deep dive video with Mike Antich.
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.
As many of us are watching fuel prices and commodities, these new trends bring about uncertainty and volatility. In this State of the Fleet Industry video, Mike Antich explores the current conditions, causes, and effects.
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