If you are not taking a closer look at your fleet’s total cost of ownership, well you are more likely losing your hard-earned money. Total Cost of Ownership is the cumulative cost incurred at the asset level from its acquisition to disposal.
Now, we will share with you how to establish your Fleet cost analysis and how an FMS (Fleet Management Solution) is an essential partner to meet this goal.
How to establish your Fleet Cost Analysis?
With your large number of fleets, doing this type of analysis is a struggle. It's challenging to get the data you need on your own and at a glance. To have this data, you would need to:
Take into account the full history of your current vehicles.
Consider the effects of inflation and fluctuating interest rates, and how those affect costs.
Estimate the lifetime fleet maintenance costs.
Find a way to access the future market value of your vehicles.