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Operating Costs

In addition to product availability issues, spare parts shortages, and elevated fuel expenses, construction companies are also contending with supply constraints with building materials and staff shortages due to COVID.

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10 Ways to Reduce Fuel Spend

Since fuel is a fleet’s largest operating expense, it catches the attention of senior management when fuel prices start to rise as they are today. Here are 10 fuel reduction strategies that you a implement to make a dent in your fuel spend.

Forecast of PM Costs in 2021

The trend of increased PM costs per service will continue as more and more vehicles requiring conventional oil are taken out of service and replaced with models that require synthetics. 

Warranty Recovery Dollars Decrease After OEM Shutdown

More stringent enforcement of OEM-recommended services to qualify for warranty coverage continues. Cash flow issues caused by the pandemic have caused some OEMs to be more tight-fisted with warranty recovery dollars.

Low Demand Flattens Fuel Prices in 2020

The largest fleet operating expense is fuel, which traditionally represents approximately 60% of all operating costs. However, the decreased miles driven by fleets during the pandemic was the No. 1 factor contributing to keeping fuel costs flat in 2020. 

Forecast of Tire Prices in 2021

The ultimate outcome of the pandemic and the strength of the economic recovery are driving many predictions on future pricing.

Multiplicity of Fleet Tire Sizes

A perennial factor exerting upward pressure on replacement tire costs is the adoption of larger diameter tires and unique tire sizes. The increase in OEM automobile wheel diameters has driven up the price of fleet replacement tires, primarily because the larger the tire, the greater the manufacturing expense.

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