Fleets are expensive. From the day-to-day expenses involved with maintaining your vehicles to the unexpected costs that you inevitably experience, maintaining your budget can seem impossible.
As a fleet manager, you’re ultimately responsible for your fleet’s numbers. For your own success and peace of mind, it’s important to gain savings where you can. The year’s final quarter is quickly approaching, so these tips are essential for maintaining your budget through the rest of the year. See how you can get the most from your budget with these four ways to reduce fleet costs.
1. Decrease fuel costs
Fuel will always be one of the largest and most uncertain parts of your fleet budget. With ever-changing fuel costs, it’s hard to plan for the amount you need. Though you can’t control your costs, you can use telematics and driver training to limit them. GPS capabilities offer real-time, optimized routing, making sure your drivers take the best, shortest routes. As you cover fewer miles, your fuel consumption will also decrease. You can also train your drivers to avoid idling and speeding, two behaviors that waste fuel. Your drivers will spend less time at the pump, helping you save more on fuel.
2. Optimize fleet efficiency
Make sure every dollar counts by increasing workplace efficiency. Telematics can help you track and improve productivity, meeting your goals and keeping operations smooth. Optimizing workplace costs will also help increase your revenue, creating a win for everyone involved.
3. Decrease vehicle lifecycle costs
It’s important to know when the costs of an aging fleet outweigh the costs of replacing your vehicles. By tracking your vehicles’ maintenance and repair costs, you can determine when a vehicle costs too much to keep. Tracking your vehicles can also help you sell at the right time, giving you the best resale price and avoiding ongoing maintenance costs.
4. Improve fleet safety
When the average work-related vehicular incident costs between $16,000 and $50,000, fleet safety is a significant factor in overall costs. Telematics can help you identify and address dangerous driving behaviors before they become deadly. As you keep a careful eye on vehicle diagnostics and driver actions, you can maintain safety for your drivers and everyone else on the road.
How do you maintain your fleet budget? Tell us in the comments!