Navigate Rising Fleet Costs with Strategic Fleet Management Solutions

Fleet costs are difficult enough to manage in the first place, let alone when overall fleet expenditure is increasing, as it has done over recent years.??

The pandemic, ongoing conflicts, rising inflation, supply chain challenges, general cost of living and cost of business increases are still all having an impact.??

According to Bridgestone, fuel management is a key consideration for Fleet Managers, with 68% focusing on taking new strategic measures to control costs in this area.?

72% are also looking to extend their vehicle replacement cycles due to supply chain disruption. It's no wonder, when the average cost of replacement parts for fleet vehicles has risen by 35% in four years, according to data from Epyx, cited in Business Car.??

Bridgestone, also reports that 71% of fleet managers said they are planning to deploy new technologies such as telematics to help reduce fleet costs and operational pressures.?

Our fleet management tracking system, ABAX Fleet, aims to empower Finance Directors and Fleet Managers across Europe to navigate the complexities of fleet expenditure, maximising cost savings and operational efficiency.?

Following on from last week’s ABAX Insights, we’ve highlighted more ways in which the right fleet management tracking technology and strategies can mean fleet expenditure management doesn't have to be an ongoing challenge, but an opportunity for your business to thrive in a competitive market.?

Fuel Costs?

Fuel costs can make up a significant portion of a fleet's budget and its reduction is also becoming more and more important as businesses need to take steps to meet ESG targets and address growing environmental and sustainability concerns.??

ABAX's GPS tracking system offers real-time vehicle location visibility, enabling efficient route planning and reduced fuel consumption. By monitoring driver behaviour, such as speeding and idle time, you can promote responsible driving habits, leading to further fuel savings.?

Maintenance and Repairs?

Fleet vehicles, like any other machinery, require regular maintenance. Untimely breakdowns and repairs can lead to unplanned expenses that severely affect the budget. Predictive maintenance features use Smart Mobility data to anticipate maintenance needs, reducing the risk of breakdowns and unexpected repair costs.?

With the right technology and strategies, controlling fleet expenditure can maximise cost savings and operational efficiency.??

Read more in our blog post, ‘A Comprehensive Guide to Controlling Fleet Expenditure’ where we share more of our expertise.??

Until next time,??

The ABAX Team?