Reducing fuel costs is nothing new to a fleet managers and companies of all sizes, but it continues to be an important one. Many fleets, small and large, look to discover the secret formula to improving fuel economy and increase their bottom line. The following are a few tips to help for fuel cost reduction tips.
What is fuel economy?
Fuel economy is the connection between distance travelled and the amount of fuel consumed for any given vehicle. Typically measured in miles per gallon (MPG), fuel economy can differ greatly depending on the make and model of a vehicle. For example, a small car is likely to have a greater fuel economy (more MPG) than a heavy-duty truck. That being the case, though each vehicle has an estimated fuel economy, there are many different ways to improve. As you continue reading, we discuss the benefits of improving your fleet’s fuel economy and how you can use telematics to make your fleet more efficient and profitable. How does telematics improve fuel economy? Today, we have been hit with ever-increasing fuel prices and the pressure to go green is now driven by the need to reduce costs, but also corporate sustainability targets. For most businesses, the number one area targeted is fuel. As fuel is generally one of the biggest operating costs for fleets, investing in this area can have a great impact. One method that helps drive fuel savings is to implement a telematics solution. When using telematics, you can reduce fuel consumption by:
Improving driver productivity by reducing vehicle idling time, speeding and harsh acceleration
Finding shorter routes to reduce total miles driven
Detecting engine issues that could be contributing to high fuel spending
Analyzing your miles per gallon (MPG) reports to pinpoint your most fuel efficient vehicles
Understanding the impact of out-of route refueling time on your business
Why going green can help An overall green fleet program targets the improvement of fuel economy by using innovative fleet management technologies like telematics. Read more about ways to green your fleet in this blog post from our good friends at Geotab: 30 tips for a green fleet strategy. Also, more and more businesses are turning to hybrid and electric vehicle purchases to help build green fleets. To learn more about Geotab’s green fleet technologies, see our green fleet management resources.
Conclusion We pride ourselves on arming business owners with the information and systems they can implement to start to build plans that tackle fuel economy goals and objectives. Our experts at Advantage Asset Tracking along with Geotab support can help you address your needs and provide opportunities to achieve a positive ROI. For more information on how Advantage Asset Tracking can assist you with your fuel economy needs, request a demo with an expert today.