LEASING brokers in the BCH sector need to hone their fleet management capabilities as fleet cars and vans increase in age.
Latest data from the epyx 1link Service Network platform indicates that average length of operation is increasing which will be reflected in the number of extensions brokers have been undertaking for clients.
Fleet cars are now three years old at the point of service or repair; vans are 3.58 years old.
In 2019 the figure for cars was 2.4 years old and for vans 3.03.
What’s more, booking of service times to workshop entry are also on the increase, suggesting brokers need to proactively manage customer fleets.
The average wait from booking to workshop has gone from 11.87 days in 2021, 12.92 days in 2022 and on to 13.74 days in 2023.
Vehicle off road time is also on the up. epyx data shows that the time spent in a workshop has risen from 1.63 days in 2021 to 1.91 days in 2023, which will be impacting fleet efficiency.
“One of the persistent effects of the pandemic for fleets has been an ongoing ageing of the vehicles they operate. While we’re now in a situation where something of a recovery has taken place, car and van production over the last few years has been much reduced.
“This has very real repercussions for vehicle operations in practical terms. Older vehicles, especially those with higher mileages, will always tend to need more SMR. It is a question of an increased degree of demand meeting a level of capacity that is largely unchanged, and lead times are continuing to rise.”
Broker News Newsletter 30 April 2024
Catch up on the latest leasing broker news in the 30 April 2024 Broker News newsletter
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Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.
