The Value of Fleet Investment
Logistics businesses depend on their fleet – it’s at the very heart of their success. But unlike non-commercial vehicles, business fleets go through more wear and tear in a shorter amount of time. As a company’s fleet brings in vital revenue, it is imperative that capital is re-invested back into these vehicles.
Why? Our commercial vehicles must constantly be upgraded; but this investment needn’t be viewed as a necessary but tiresome expense – it also results in improved efficiency and greater reliability.
With drivers undertaking frequent shifts, investing in quality vehicles is imperative. Up-to-date vehicles have the latest technology, which increases the safety of the drivers and other road-users as well as the efficiency of the fleet, ultimately escalating profits. Upgrading means investing in the latest safety equipment like rear view cameras, hands-free smartphone connections, and up-to-date tachographs. Modern satellite navigation systems also drastically decrease delivery time by helping drivers navigate road closures and traffic build-ups, among other things. Furthermore, these new fleet improvemennts boost employee satisfaction and serve as a great promotion for a company’s products or services.
Reductions in maintenance costs are another benefit of the investment in fleet vehicles; as they are used every day they require regular maintenance. Fleet upgrades reduce a company’s maintenance costs and extend the vehicles life span as well as make sure the vehicle is safe to drive. Costly maintenance repairs can also negatively affect the delivery time of a load, negatively reflecting on the company’s overall reputation.
Another means to improving the value of a fleet is investment into good quality, professional drivers. Ensuring the hiring of properly trained, qualified drivers with experience is an absolute must. Laws and legislations regularly change with driving laws, and so ensuring one has competent drivers means that businesses are always above board and in accordance with the law.
Investment into the sustainability of HGVs is a big topic at the moment, with the current climate situation and the newly imposed government targets for the reduction of emissions, the eradication of fossil fuelled vehicles doesn’t seem too farfetched. Additionally, the rising number of natural gas fuelling stations in the UK is an indication that business owners are looking to invest in environmentally friendly transport vehicles. Although the technology is still in its developing stages, it’s always worth keeping an eye on and investing in the future before laws change and businesses are penalised heavily for burying their heads in the sand and continuing to run fossil fuelled HGVs.
As stated, business owners can only invest when these new eco-technologies are advanced enough to be commercially viable, and many vehicles are still reliant on fossil fuels. However, companies can still choose to improve their fleet’s fuel efficiency. Commercial fleets can create huge fuel costs and, for some companies, these costs are as big as their payroll. The automotive industry is investing their efforts into decreasing the overall consumption of fuel across the board and improving fuel efficiency in the logistics sector would be a huge step in the right direction.
Overall, the value of fleet investment is of vital importance to safeguard a business for the furture, and it’s a process we consisitently undertake at Barnes to ensure we provide the safest, most reliable logistics services for our customers. Explore how we can help you with our logistics services.
