More than half (51%) of UK fleets say fuel and energy costs are placing the greatest pressure on their budgets, according to new research.
The study by Webfleet, Bridgestone’s advanced fleet management solution, found vehicle maintenance and downtime to be the second biggest concern, cited by almost a quarter (24%) of respondents.
The findings come amid renewed volatility in global energy markets. Although fleets have limited influence over these external pressures, the research also highlights the financial impact of inefficiencies within their day to day operations.
More than a quarter of fleets (28%) said avoidable vehicle downtime was the inefficiency having the greatest impact on costs, while 23% pointed to underutilised vehicles or assets.
Driver time lost to delays or poor scheduling was cited by a further 16%, with 13% pointing to inefficient routing and planning.
Taken together, 67% of fleets said avoidable downtime, asset underutilisation or lost driver time had the greatest impact on fleet costs.
‘Fuel and energy remain significant and often unpredictable overheads, particularly when conditions in global markets can change quickly,’ said Alex Crane-Robinson, regional director for the UK and Ireland at Webfleet.
‘While fleets cannot control fuel prices, greater visibility over consumption, driver behaviour and vehicle performance can help them reduce unnecessary fuel use and manage costs more effectively.
‘The findings also show that fleets are looking closely at the costs created by lost time and inefficient asset use. Unlike many external cost pressures, these are areas where operators can take steps to limit their impact. Better visibility over vehicle use, maintenance requirements and daily operations can help fleets identify inefficiencies earlier and make more informed decisions.’
Looking ahead, more than half of operators (55%) believe there will be a greater emphasis on improving efficiency and productivity over the next two years, supported by better use of insight and automation.
This compares with 27% who expect fleets to rely more heavily on tighter budgets and cost controls. Just 10% anticipate little change.
‘Effective cost control starts with understanding where time and money are being lost,’ Alex added.
‘Using accurate fleet data to improve planning, reduce avoidable downtime and make better use of vehicles can help businesses control costs without compromising productivity, customer service or safety.’