Pandemic impact on fleets revealed in new research
New research from Verizon Connect sets out the impact of the pandemic on fleets while also outlining other challenges and trends within the sector.
While many fleet-based businesses were classified as essential and able to continue operations, new challenges impacted efficiency and profitability, according to the analysis.
On average, fleet managers lost four working weeks (20 days) as a result of the pandemic. 7.5 working days were lost due to staff self-isolating, 6.5 working days lost due to driver sickness or illness and a further 6 working days due to temporary travel restrictions.
And a total of 62% of fleet managers said that their supply chains were disrupted as a result of the pandemic, and 51% said they had to make significant cuts to their operational budget.
Almost three in five (58%) said that following health and safety regulations such as social distancing had made the business less efficient and the majority (52%) said that it has been difficult to comply with constantly changing guidance.
The research, carried out among over 400 fleet managers and decision makers who operate fleets of between three and 500 vehicles, also found technology played a key role supporting fleet managers during the pandemic. Half said they adopted new tools to boost efficiency and 49% said that they would not have maintained business continuity or achieved success without a fleet management solution. One area where fleet management helped was contact tracing, with 52% saying they adopted a fleet management solution to support contact tracing protocols.
The research also explored fleet manager concerns in general and found a tie between political/economic uncertainty, vehicle maintenance and associated costs, and job redundancies/furloughed staff, with 24% of fleets saying these were top concerns.
The research also explores fleet managers’ health and safety concerns, trends in accidents and vehicle thefts, and fleets’ plans for electric vehicles.
For further insights from the survey, click here.