Upward Cost Pressures on Fleet Expenses

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The 59th State of the Fleet Industry video produced by Automotive Fleet offers an updated look at the state of the fleet market for the week of June 1, 2021, as analyzed by AF Editor Mike Antich.

Today's topics include:

• Parts shortages extending beyond fleet to impact companies’ core businesses.
• Prediction that there will be a 4-5% uptick in fleet expenses in 2021 and 2022.
• Prices trending upward for fuel and replacement tires.
• Commodity prices are increasing across the board and there is concern it will impact aftermarket parts pricing, especially in the upfit industry.

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⏱ Timestamps ⏱ (Other topics discussed):

0:00 Introduction
0:19 Following Fleet Management Trends
0:55 Longer Lead Times & Vehicle Availability Issues
1:44 It’s Not Just a Microchip Shortage Anymore
2:55 Labor Shortages Impacting Fleet Operations
3:23 Upward Pressure on Fleet Costs
4:00 Commodity Prices Are Increasing
5:43 The Last Occurrence of Rising Commodity Prices
6:52 Preparing for the Price Increases

Originally posted on Automotive Fleet