Cost pressures are delaying fleet adoption of electric vehicles, research from Bridgestone and Webfleet has found.
The study, conducted among 210 fleet decision-makers, discovered more than three-quarters (76%) are postponing fleet electrification plans. A further 78 per cent said cost pressures were delaying plans for fleet technology adoption.
Although decision-makers acknowledged short-termism would negatively impact longer-term cost reduction strategies (78%), almost a third (32%) said they were downsizing their fleets and 61% said they believed fleet-related staff would be laid-off in the coming months. A high proportion of fleets (72%) are also looking to extend their vehicle replacement cycles, the report found.
Speaking about the findings, Andrea Manenti, Vice President North Region, Bridgestone EMIA, said: “Cutting capital spend is the go-to survival strategy for many businesses as rising costs hit their bottom lines. But when it comes to fleet decarbonisation and digital transformation, it is a case of kicking the proverbial can down the road.
“With careful planning and management insights, the total cost of ownership (TCO) of electric vehicles – the cost of procuring, operating and maintaining them – can be lower than for their fossil-fuelled equivalents, resulting in savings over the fleet lifecycle.”
Webfleet Regional Director for Bridgestone Mobility Solutions, Beverley Wise, said: “With the business squeeze continuing to stretch resources, digital systems that harness fleet insights to deliver efficiency and productivity gains can prove invaluable.
“For fleets that have yet to deploy the latest, advanced fleet management solutions, now may be the time to do so. The return-on-investment opportunities – alongside significant sustainability benefits – are far reaching, offering a precious route to greater business resilience when it is needed most.”
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