Leasing most popular choice among fleet managers
U.S. – Twenty-seven per cent of companies expect to increase the size of their fleets in the next 12 months, with leasing being the most popular choice for obtaining new vehicles, says a survey by GE Capital. Additional key findings from the survey include:
- Only four per cent of companies surveyed currently have alternative fuel vehicles in their fleet, but nearly half (48 per cent) plan on adding AFVs in the coming years. Of those companies, 64 per cent plan on adding AFVs in the next two years, and 92 per cent will add them within the next five years.
- Just over half of companies with fleets (51 per cent) expect fleet costs to increase this year; very few expect costs to decrease. The largest increases in fleet-related costs in the past year were in the areas of fuel and maintenance (especially the upkeep of older vehicles and unscheduled repairs).
- Two-thirds of executives overseeing vehicle fleets indicate that their firms saw improved overall performance (65 per cent) and financial performance (69 per cent) vis–à–vis one year ago.
- The primary objectives of leadership are maintenance costs and reducing fuel costs via right-sizing and introduction of alternative fuel vehicles.
- The most popular mode of obtaining new vehicles was leasing — cited by 30 per cent of respondents, a bit more than using cash on hand (28 per cent).