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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.

Comments

Reel$$

These guys might want to consider what Fred Smith CEO of FedEx had to say recently:

"It is tempting to say that the headlines about rising fuel prices, Libya and other events in the Middle East will be a wake-up call to the dangers of oil dependence. But such calls have been repeated for almost 40 years, and yet the vulnerability – both in the US and across the globe – remains.

Our mobile economy remains defenceless against oil-price shocks and supply interruptions. In the US, transport accounts for 70 per cent of petroleum consumed. 97 per cent of transport fuel in the US is derived from oil, and there are no plausible substitutes. When prices go up, there are only two choices: drive less or pay more. If supplies are disrupted for any reason, the choices are even worse. This must change."

SJC

"there are no plausible substitutes"

Of course there are, instead of wasting $200 billion from the Recovery money on tax breaks for businesses that goes into the owner's pocket and creates NO jobs, build 200 fuel plants instead.

That would create 100s of thousands of new good paying jobs building that plants and thousands of new good paying jobs running and maintaining the plants. They would produce fuel right here in the U.S. and keep the imported oil money right here to build our economy.

Reel$$

You're right. Smith knows there are solutions like EVs, but refers to the lack of significant petroleum substitutes today. But building a network of waste to biofuels plants makes perfect sense. We have HUGE waste streams to work with - why not use them to make fuel that WILL be a substitute for foreign oil?

SJC

No problem, lots of ways to make synthetic gasoline and diesel. The problem is the money required and the iron fisted grip of big oil. Fed Ex and UPS combined could not take on even one oil company, let alone all of them.

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