GE Capital Releases Q2/15 Fleet Market Economic Outlook
JUN 17, 2015 - 7:45 am
GE Capital released the latest wave of its national survey of c-suite executives at middle market companies, ranging from $10 million to less than $1 billion in sales. The survey examines opinions on financial performance, operational issues and economic outlook from businesses in the fleet industry. The survey also compares fleet industry opinions to overall sentiment from mid-market businesses across industries.
Key findings include:
Employment: Staffing is a challenge for those with fleet responsibility, as it is across the middle market. Employment at companies with fleets is expected to grow at an average rate of 3.6% year-over-year.
Alternative fuel: The majority of executives with fleet responsibility have plans to add alternative fuel vehicles (AFVs), but fewer than 5% have AFVs in their fleets currently.
Costs: Just under half of middle-market executives with fleet responsibility expect fleet costs to continue to rise, driven by maintenance expenses, fuel costs and vehicle acquisition/depreciation. Reducing fuel usage and maintenance expenses are seen as the greatest area of opportunity for cost savings.
Growth: Three-quarters of executives overseeing vehicle fleets indicate that their firms saw improved financial performance over the past 12 months.
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