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The latest research from Cox Automotive published today – Future of Fleets: Path to EV Adoption – shows that among other things that, compared to vehicles powered by internal-combustion engines (ICE), fleet owners operating both electric vehicles (EVs) and their traditional, fuel-burning counterparts have higher levels of satisfaction with their EVs. This despite higher acquisition costs as well as more frequent service and maintenance. Conducted in Q1 2024, the survey collected data from fleet decision-makers in various regions and across differing fleet sizes. “Data show that 14% of fleets presently operate EVs, with a significant trend toward EV adoption expected in the next five years,” Cox said.
“The electric-vehicle story is much larger than just the retail story,” said Zo Rahim, senior analyst of Research and Market Intelligence at Cox Automotive. “In many ways, electric vehicles can be an ideal solution for many fleet operations, which often have set routes of known distances, vehicles that routinely overnight in the same location, and operations that prioritize the cost of ownership. The fleet business is significant in the U.S. market, and we expect the EV share of the fleet market to expand in the coming years.” Continue reading
NHTSA – 31 Second Consumer Alert on Vehicle Theft
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One vehicle is stolen every 31 seconds in the United States according to a Consumer Allert issued today by the National Highway Traffic Safety Administration. (Read AutoInformed on Kia and Hyundai Models Have Highest Theft Rates in 2023)*
“Each year, vehicle theft costs Americans more than $8 billion. Victims are left handling the aftermath, such as higher insurance premiums and vehicle depreciation if they’re lucky enough to get their vehicle back. More than 1 million vehicles were stolen in 2023, a 25% increase in vehicle thefts over the previous few years,” NHTSA said. Continue reading →