Fleet costs mount up

There are an estimated three million company cars on the roads and roughly one in three will be involved in an accident each year.

Over 17% of these incidents will take place on a Tuesday, with damages from fault and non-fault incidents costing companies upwards of £6.4m over the past three years, just for the one day.

For businesses who operate company vehicles dealing with incidents is an unfortunate part of managing a fleet. As well as just the safety implications of having drivers involved in incidents, companies can also face unexpected costs due to, repairs, vehicle downtime and ultimately lost productivity.

New data from LeasePlan UK, collected over the past three years, shows the average daily cost of repairs to businesses for fault and non-fault incidents is £5.3m, with an average vehicle off road time of 9.6 days. Further insight shows the industry sector with the highest incident rate is the transportation sector with over 33%.

To help reduce downtime, save time and money, while also keeping vehicles and drivers in good conditions it is important to understand how to manage risks and accidents. A fleet risk strategy is important to ingrain into a company’s everyday operations.

Stuart Houlston, commercial director at LeasePlan UK, said, ‘LeasePlan’s launch of the benchmarking tool is the first step in demonstrating we are on the front foot of modern fleet management. Inviting customers to challenge themselves and us to be the best we can be in the fleet industry through benchmarking.  It’s a tool to get people thinking about what they might want to improve on next.  Providing insights to our clients to drive their decisions is what we’re all about.’