On June 26, 2024, Element Fleet Management experts presented in-depth considerations and strategic recommendations on managing fixed fleet expenses in our webinar, The keys to reducing your fleet TCO.
The insightful discussion addressed how effective fleet management and robust data plays a crucial role in optimizing costs and ensuring the highest return on investment (ROI).
Selection of the right fleet vehicles Choosing the right vehicles for your fleet directly impacts the total cost of ownership (TCO). Factors such as specific vehicle usage requirements, the type of vehicles, sustainability initiatives, and the current OEM landscape must be considered during the selection process. Making informed choices here can result in significant cost savings.
Optimal replacement timing Timing the replacement of fleet vehicles contributes significantly to maximized ROI. Leveraging robust data modeling can greatly enhance your approach to fleet maintenance and replacement. These tools help determine the best times to replace vehicles to ensure you get the most value from them.
Connected fleet solutions Leveraging fleet telematics can substantially improve safety and operational efficiency. Benefits include reduced accidents, lower repair costs, and increased productivity. Telematics data is particularly valuable, as it can identify risky drivers and inform targeted safety training programs to mitigate risks.
Understanding resale market trends Predictive data modelling contributes to maximized ROI during the resale of fleet vehicles. Access to comprehensive data provides in-depth understanding of market trends and offers a strategic advantage by providing insights into resale values, helping you make informed remarketing decisions.
Electrification Reducing your fleet’s carbon footprint by transitioning to electric vehicles (EVs) can be a cost-effective move, given the decreasing costs of EVs and potential savings on maintenance and fuel contributing to lower operational costs and to achieving your sustainability goals.
Watch the webinar recording below to discover the keys to reducing your fleet TCO.
