Turbulent economic conditions and inflationary pressures continue to impact virtually every aspect of fleet operations.
Whether it is rising interest rates, inconsistent supply chain performance, or fuel price fluctuations, these trends significantly influence operating costs and understanding the implications of these variables is crucial.
With fleet stakeholders throughout North America trying to forecast the impact rising costs will have on their fleet expenses, Holman, a global automotive services organization and leading fleet management provider, has released its new Economic Trends report. Holman’s Economic Trends report examines inflation in 2023 and highlights how these factors influence each stage of the vehicle’s lifecycle — buy, drive, service, and sell — providing the information fleet operators need to optimize their strategy and control costs while adapting to continued economic uncertainty.
Leveraging both internal data and external resources, Holman’s Consulting Services team offers a comprehensive analysis of how inflationary pressures are affecting fleet expenses, providing valuable insights to the challenges faced in each stage of vehicle management, including:
- Buy – Persistent inflation and unreliable supply continue to make buying fleet vehicles a challenging task; driven by vehicle price increases and surging interest rates, monthly lease payments have increased by nearly 40 percent since 2020; learn more about the factors driving these market conditions so you can make informed buying decisions and adjust your acquisition strategy.
- Drive – Fuel costs often account for the majority of a fleet’s operating budget; get the latest data on fuel prices and forecasts for the remainder of 2023 along with a look at the factors that are contributing to continued volatility so you can allocate your budget accordingly.
- Service – Fleet maintenance costs have increased by as much as 30 percent in some regions due to various factors, such as parts and labor shortages, and rising commodity prices; limited new vehicle inventory is also extending vehicle lifecycles resulting in additional maintenance expenses; learn how you can best equip your fleet to overcome these conditions and better control operating costs.
- Sell – Want to maximize your returns through remarketing? Learn how to take advantage of the current resale market and choose the right time to sell your assets by gaining expert insight and advice from the analysis.
For an in-depth look at the macro trends affecting your fleet, visit Holman.com to download Holman’s Economic Trends 2023. Holman’s Economic Trends reports delivers the tangible advice you need to navigate these ongoing economic headwinds and maximize the potential of your fleet as a strategic business asset throughout 2023—and beyond.
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