Solutions To Help Fleets Navigate Uncertainty
Uncertainties around the economy, consumer spending and freight demand remain, and predicting capacity demands, consumer behavior and business needs can be challenging in the current operating environment. However, there are strategies fleets can use to prepare for the year ahead, no matter what it brings.
Predict Costs With Leases: Full-service leases offer fixed, predictable monthly costs that can help fleets control and manage expenses. Commercial vehicles, especially Class 8 tractors, are costly, and new and ever-changing technology keeps increasing costs. Purchasing equipment outright requires significant up-front costs (including sales tax and finance charges) that tie up capital. Penske’s leases also include maintenance and tires and remove many hidden ownership costs, including the associated expenses of overhead, towing, taxes, washing, acquiring substitute vehicles and licensing.
Improve Miles-Per-Gallon With the Right Equipment: Controlling costs is a top priority, and fuel is among fleets’ largest expenses. Choosing the proper specifications for a vehicle’s application is one of the most significant opportunities to improve fuel economy, cut operating costs and reduce the risk of mechanical failures. Penske Truck Leasing’s experts can work with fleets to examine historical data and understand routes, capacity, drivers and freight. Then they work with original equipment manufacturers to build a truck for optimal performance and fuel efficiency while meeting the fleet needs for power trains, tires, fuel type and capacity, weight and aerodynamics.
Flex Up and Down as Needed: Utilizing leases and rentals can create increased operational flexibility because fleets can ramp vehicle leases up and down to adapt to changing business needs without making long-term, up-front capital commitments. Leases and rentals provide capacity without significant capital investments and give fleet operators flexibility in the number of vehicles they keep. The amount of time the equipment will be needed and the business’s growth expectations and finances can help dictate which option is best.
Engage a Brokerage Partner: Brokers serve as a critical link that connects shippers and carriers and can provide flexibility for both parties. Brokers give shippers access to capacity and the ability to flex up and down as needed. For carriers, brokers create the opportunity to fill lanes and take advantage of opportunities in the spot market. Penske can negotiate well-structured carrier arrangements, supply fleets with freight and help carriers minimize deadhead miles. Register online to prequalify and become a carrier for Penske.
Attract and Retain Drivers: Driver turnover can increase costs and decrease service. One approach that helps attract and retain drivers is to offer them late-model equipment with comfort features and driver-assist technologies that can make the job less stressful. With a full-service lease, fleets can ensure they have modern, late-model equipment that is well maintained, minimizing breakdowns and increasing uptime, all of which can keep drivers behind the wheel.
Improve Safety: Rising insurance premiums, the risk of nuclear verdicts, and roadside violations can potentially hurt a fleet’s bottom line and reputation. Maintenance is included in full-service leases, and Penske has a comprehensive preventive maintenance program. Following a regular schedule ensures equipment is safe and reliable.