As Fleet Advantage will illustrate at the TMC event in booth No. 7004, more fleet executives are leasing their trucks to shorten their life cycle and lower their Total Cost of Ownership (TCO). The company recently completed its annual benchmarking survey and found that 31% of fleet respondents are leasing their trucks, significantly up from last year when only 14% of fleet executives said they were leasing.
However, lease structure is a major area of concern for many as 28% of fleets are in an unbundled lease agreement and “see greater value on flexible fuel and maintenance costs.” This compares to 20% who say they are locked in a full-service lease with some saying they are “trying to escape the contract because of inflexible costs on fuel and maintenance.” Additionally, 41% of fleet executives say the supply of new trucks and inventory challenges have altered their truck procurement plans due to lead times.
“Flexibility and agility are important business strategies uncovered during 2020, and fleets that position themselves with the flexibility to adapt to changes in today’s business climate have a significant competitive advantage,” said Don Davis, senior vice president, National Accounts.
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