A new report from Geotab found that U.S. fleet professionals are successfully leveraging sustainability to cut down on their operating costs.
Released on April 10, the report found that 87% out of 100 professionals surveyed across the automotive, government and business fleet industries in the U.S. anticipate increased business costs throughout 2024. As costs rise, 39% of fleet professionals said that new vehicles represent the biggest portion of their costs. Another 28% said that came from vehicle maintenance, while 15% highlighted fuel costs.
One way to mitigate those costs could be found in a focus on sustainability, with 69% saying they saw a “sizable decrease in operating expenses” over the previous year after implementing sustainability measures like switching to low and zero-emission vehicles. Artificial intelligence and data tools also factored in heavily, with 60% finding that data intelligence was critical to cutting operational costs.
“As fleet professionals execute ambitious sustainability goals, data intelligence and AI are driving decision-making and reporting which is driving business value,” Geotab vice president of sustainability solutions Eric Mallia said. “We’re increasingly seeing more fleet operators embrace the cost-saving potential of measurable sustainability initiatives, delivering a ‘double-bottom line’ of operational cost savings and a reduction in emissions.”
A large majority of company leaders appear to be on board with this path forward as well, with 84% saying they support progress on sustainability goals.
