In addition to an unstable economy, fleet managers and business
owners now have to contend with fleet management costs on the rise.
Our colleagues at Business Fleet have released some key findings
from GE Capital Solutions Fleet Services 14th annual fleet passenger
car maintenance study. One major finding was that fleet management
costs have risen 5% from 2007 to 2008.
The main source for this uptick in costs came from increased prices
for replacement tires along with higher labor rates. Since oil is a key
ingredient in the tire manufacturing process, when oil prices
sky-rocketed, so did the price of tires. Add to that the cost of labor
rising 3-4% from the previous year due to shops feeling the economic
pinch, and you can see how these costs can quickly add up and affect
your bottom line.
One way to combat these rising costs, especially in relation to
tires, is with the maintenance reporting that a fleet fuel card offers.
You’ll know exactly when your vehicles need their tires replaced, so
you’re not spending extra money replacing them too often and you’re not
letting them go so long that something else breaks.
Read the entire story here, and we want to know: what will you be doing in 2009 to combat rising fleet management costs?