Electric vehicles may cost more upfront but then surpass their fossil-fueled counterparts in operational savings, according to findings from a predictive data analytics firm.
The humble city curb is now coveted real estate, and it’s making mobility increasingly difficult. Cities are turning to curb management concepts that allow fleets to dynamically guarantee parking for a fee.
Most of the subject matter experts that we spoke to expect an increase in tire prices, although predicting future tire costs is difficult due to variables that influence tire pricing.
Higher fuel prices and maintenance costs, along with upward pressure on maintenance labor rates are a few of the factors increasing fleet operating costs.
Fleets are being impacted by a variety of inflationary pressures ranging from higher acquisition prices due to the proliferation of onboard safety equipment, to increased material costs pushing up pricing on parts, upfits, and replacement tires.
A lifecycle cost analysis that incorporates a work vehicle’s productivity can lead to greater fleet utilization and decreased fleet spend.
Included in this groundbreaking total cost of ownership study for fleets are battery-electric models including BMW i3, Chevrolet Bolt, Nissan Leaf, and Tesla 3, as well as plug-in hybrid electric models such as Chevrolet Volt and Hyundai Ioniq Plug-In Hybrid.
A vehicle’s total cost of ownership is comprised of its fixed costs, operating expenses, and depreciation per year or during the course of its service life, minus its anticipated resale value. During the course of a vehicle’s service life, TCO is subject to change due to a vehicle’s age and numerous external factors, which has a direct bearing on replacement policies.
The fleet procurement process, like most other aspects of fleet, is heavily dependent on the capabilities of modern-day technology. Online-based procurement systems help fleet and procurement professionals understand more about their operations so they can make impactful decisions.
While there never seems to be enough money to go around, one of the less talked about aspects of fleet management is the amount of budget dollars that are wasted every year.
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