GE survey finds volatile fuel prices are top fleet manager concern; 28% plan to incorporate electric vehicles within next 12 months
Corporate fleet managers rate higher and more volatile fuel prices as their top concern in 2011, according to a recent survey conducted by GE Capital Fleet Services. 29% said the recent spike in fuel prices has made this issue their top concern, up from 12% a year ago.
The survey of 105 fleet managers, conducted recently at the 2011 NAFA Institute & Expo in Charlotte, found that driver safety and cost savings were also top areas of concern. Concern for driver safety increased in 2011 to 28% from 21% in 2010, while cost savings fell as a priority but remained important at 23%, down from 36% in 2010.
Moreover, cost savings are now a bigger focus for executive management according to fleet managers. 64% of those surveyed indicated that executive management’s main focus for fleets is cost savings, up from 48% in 2010.
Other key findings from the survey include:
Analytics: 29% of fleet managers use fleet analytics to improve operational efficiency and 27% noted that analytics helped them achieve cost savings.
Lease accounting: Between a third and half of fleet managers (40%) feel they don’t have a good enough grasp of how pending changes to lease accounting rules (FASB) will affect fleet leasing.
Electric Vehicles: 28% said they plan to incorporate electric vehicles into their fleets within the next 12 months.