Vehicles are in very short supply and fleet managers nationwide are agreeing on one thing: work with what you’ve got for as long as you can! Experts are suggesting it’s time for fleet managers to get very creative, because this shortage is anticipated to potentially stick around through 2024.
In 2021, there were between 1.5 million and 5 million fewer vehicles produced than the industry anticipated. Steady increase in inflation and continued supply chain issues hit the industry very hard, and fleet managers now must consider a completely new mentality in the way they do business. Advisors in the industry are suggesting the following:
- If there’s any way to do it, cut back on your fleet now and save.
- This seems counterintuitive to #1, but before you downsize, make certain that you will never need the vehicle in the future. The climate is not expected to improve for some time. If it will not cause sure and immediate savings, hang on.
- As you are deciding fleet needs, transition to electric vehicles more quickly. EV’s are holding up very well in the industry, and they’re here to stay. Investing in diesel will be a quick economic loss from this point on.
- Preventive maintenance has never been more essential as fleet managers are needing to extend the life of their vehicles. The cost of parts has increased considerably, so stay ahead of those repairs by caring meticulously for your cars and trucks!
- Think outside the box. Meeting the needs of your customers comes first and foremost. Suggest alternate vehicles if your typical fleet is in short supply, consider the benefits of buying used vehicles, and some managers are even buying new and using the parts to service their entire existent fleet!
The vehicle shortage has brought obvious challenges to this industry. But ABS Tag & Title’s Out of Stock Vehicle Locating Services can still be a great way to source new or used vehicles when you find yourself in need. Working together we can make the most of these challenges.