How to Deal with the Increasing Cost of Electronics in Vehicles
According to Deloitte, electronics will account for half of the cost of a new vehicle by 2030. This leaves fleet managers with the challenge of how to deal with the rising costs while still maintaining a budget.
Fleet managers are no strangers to rising costs. The cost of vehicle ownership and operation has been on the rise for years, driven by a number of factors, including the price of crude oil, rubber, and steel. But an even bigger challenge lies ahead — the increasing cost of electronics in vehicles.
Cost-Saving Tips for Fleet Managers
There are a few things that fleet managers can do in order to offset the rising cost of electronics in vehicles:
1. Review your telematics data regularly.
This data can help you identify areas where you can cut costs, such as reducing idling time or reducing fuel consumption through trip planning.
2. Implement a driver monitoring program.
This can help you detect and correct poor driving habits that lead to increased fuel consumption and wear and tear on vehicles.
3. Stay up to date on technology trends.
Newer technologies, such as electric vehicles and autonomous driving, can help you save money in the long run even though they may have high initial costs.
4. Review your maintenance schedule.
By extending oil change intervals and using quality replacement parts, you can reduce maintenance costs without compromising safety or reliability.
The cost of electronics is only going to increase as time goes on, so it’s important for fleet managers to be proactive about finding ways to offset those costs. By reviewing your telematics data, implementing a driver monitoring program, staying up to date on technology trends, and reviewing your maintenance schedule, you can make sure that you’re doing everything you can to keep costs under control. No matter which route you choose, staying up-to-date on all things tech is essential for any fleet manager looking to stay ahead of the curve.
