Nov 25 2024
Fleet managers commonly struggle with unpredictable maintenance costs, vehicle downtime, and optimizing resale value. These challenges, compounded by a lack of real-time data, create inefficiencies that impact profitability. Effective fleet management, regardless of fleet size, requires taking advantage of many solutions and tools, where the optimization is only as good as the accuracy of the data that is being measured. This article explores a few common areas that can be challenging, specifically – fleet vehicle: acquisition, management, and resale.
The cost of leasing and fleet acquisition is expected to rise by 10-15% in 2025, owing to increases in pricing for insurance premiums, part supplies, and acquisition operations. Consequently, fleet management organizations require accurate vehicle data regarding cost, fuel efficiency, and valuation to ensure a consistent ROI.
A fleet solution provider needs to help simplify the fleet vehicle acquisition process by presenting vehicle data in a clear and actionable format. Displaying analysis on current vehicles in the fleet with alternative new fleet vehicle options (ex: hybrid, electric vehicles) allows fleet managers to make informed purchasing decisions while being able to demonstrate ROI within their respective organizations. Fleet solution providers should consider these key operational questions:
The ideal vehicle data solution provides real-time service scheduling tools including helping your customers maximize vehicle uptime. By utilizing accurate OEM-based data products, fleet managers can be well supported with vehicle service schedules, safety recalls, and factory warranty programs. Monitoring vehicle performance and adhering to OEM-recommended maintenance schedules for tasks like oil changes, tire rotations, and brake inspections ensures that vehicles remain in optimal condition and on the road longer.
Research from the American Transportation Research Institute shows that predictive maintenance can increase vehicle uptime by approximately 25%. By delivering precise service schedule data— tailored to standard, premium, severe, or high mileage scenarios — you help your customers avoid unexpected repairs and minimize downtime. Utilizing real-time scheduling tools and alerting your customers to expiring factory warranties (especially new car warranties and powertrain) and safety recalls, can also represent data points in and of themselves - which can be used to predict or provide recommendations about when to remove vehicles from the fleet. These capabilities ensure your customers’ fleets stay roadworthy, reduce long-term costs, and help to maximize their return on investment.
Fleet solution providers can also help their fleet manager clients maximize the value of off-fleet vehicles through comprehensive remarketing tools. Full VIN decoding, supported by build data, enables fleet owners to create detailed classified listings that highlight each vehicle’s unique features, such as window sticker data and key specifications.
Fleet solution providers play a crucial role in enhancing fleet organizations’ performance through advanced vehicle data solutions. By offering real-time service scheduling, predictive maintenance, and robust remarketing tools, you empower fleet managers to make informed decisions that maximize vehicle uptime and resale value. Access to accurate, centralized data enables adherence to maintenance schedules and can be used to help minimize downtime, while detailed vehicle information improves the remarketing process and maximize resale value. Ultimately, informed fleet managers will find solution providers that will help them realize ROI in these areas, and many fleet managers today already use third-party providers to address some or all of these key functions in addition to utilizing a fleet management solution.
It’s time to explore how advanced vehicle data solutions can be used to help fleet managers make better decisions, increase ROI, and potentially save costs over the use of additional solution providers. Contact us today to discuss how DataOne can best meet your needs in the areas discussed within this blog post.
