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alternative fuel

Twice a year, GE Capital Fleet Services surveys fleet owners to find out what their goals and expectations are for the next year. According to the most recent survey, nearly one-third (27%) of 413 fleet owners are looking to expand their fleets within the next year. These owners were from companies that ranged from $10 million to $1 billion in sales.

The survey also found that over half (64%) of these owners wanted to incorporate alternative-fuel vehicles into their fleet in the next two years and 92% said they want to incorporate them within the next five years. (Right now only 4% of owners use alternative-fuel vehicles.)

In an article by fleetowner.com, James Thompson, strategic consulting manager at GE Capital Fleet Services, explains why fleet owners are looking to add alternative-fuel vehicles.

“As the industry works out the challenges of having electric charging and CNG refueling infrastructures in place, for example, many companies are slowly starting to adopt alternative fuels in regional pilots to test out options that might work out best for their fleets in the future,” he said.

The article also explians further findings from the survey. The responses from fleet owners pointed out that:

  • Capital expenditures will be up by 39% this year.
  • Over the next 12 months, 40% of owners are considering equipment financing and 25% are considering truck or car financing.
  • Margins will increase in the coming year by 42%.
  • Nearly half (48%) said their firms will add workers. with employment expected to grow at an average rate of 3.0% every year.

In the past year, the main costs of owning a fleet were maintenance and (our fleet fuel cards can help you out with that!), and while maintenance costs decreased 4% from 2012 to 2013, more than half of owners expect the costs to rise this year. Much of the maintenance costs comes from dealing with unscheduled repairs and taking care of older vehicles.

With our fleet fuel cards, however, you can track each of your vehicle’s average gas mileage and note any changes, which could mean a necessary repair. By tracking your vehicles, you can avoid unscheduled maintenance.