With the current car market flooded with so many different makes and models, it can be difficult to decide on which vehicles to include in your fleet. It is instances like these where too much choice can present a problem - each different vehicle has its own unique set of pro’s and con’s. Fleet manager’s need to weigh up all the tangible measurable factors such as price and specifications compared to the more intangible, less measurable factors such as brand image and support. This article looks at the decision process when deciding which vehicles to include in your fleet and what factors to base your choice on.
The tangible factors of vehicles are those that refer to its life costs, including:
It is important to consider the tangible factors first as the guidelines you set for your fleet in terms of price, safety and specifications will dictate to a large degree which cars will be suitable for your fleet. For example your budget may restrict you to buying vehicles under $30,000 and your business’ safety protocols require five-star ANCAP safety ratings.
Other important factors to consider are ongoing costs such as maintenance and fuel economy. It is important to research these costs for any vehicles you are considering as the initial vehicle cost may seem cheap but expenses can quickly add up if your chosen vehicle has very expenses replacement parts or guzzles fuel at an alarming rate.
Intangible factors when it comes to buying a fleet vehicle are things that cannot be seen or felt, but are nonetheless still important. Trust and image are two of these deciders - is the vehicle manufacturer a trusted brand? Do they produce quality cars? What are people’s perceptions of the brand? It is key to remember that the vehicle make and models you choose for your fleet will reflect directly on your business, so choosing a brand that aligns with your businesses values could prove valuable.
Another key intangible factor is that of staff attraction and retention - will staff want to drive your choice of fleet vehicle? Are your fleet vehicles suitable company cars for both business and personal use? Company cars are a big drawcard for many employees, so selecting desirable vehicles may help you recruit and retain top performing staff.
When selecting which vehicles to include in your business’ fleet, it is important to consider all tangible and intangible factors before making a decision. Whether you choose one make and model to use across your entire fleet or diversify with several different vehicle types, it is critical to ensure that each car adequately meets the needs of both your business and your drivers. A total fleet management solution can help you decide on vehicles to include in your fleet and help manage other aspects of your fleet. Through constructing an in-depth fleet policy, selecting your fleet vehicles according to the above specifications can prevent major headaches later on.
- What do you look at when choosing vehicles for your fleet?
- Which factors do you consider more when making your decision?