Businesses reliant on their vehicle fleets will be in for a year of upgrade, according to many analysts. Reuters recently highlighted a huge slump in the number of fleet sales throughout 2020, and this will have a knock-on effect on what the market has to offer next year. With low sales comes a greater drive towards the consumer, meaning lower prices, better innovation, and better extra terms such as insurance and technology warranty. Taking advantage of this, company fleets in vehicle-led businesses can mark next year as their upgrade year. To do this properly, you need to assess all of your options.

Making the purchase

Firstly, what sort of vehicle are you looking for? Is it an upgrade, or a part of your business growth strategy? Many businesses will look towards trucks as their first point of call in fleet management. The most popular vehicle type in US fleets according to Global Fleet, trucks are a great starting point and a great expansion vehicle, given their flexibility and ability to take branding lines. They are also more likely to be impacted by consumer downturns in purchasing, so make the most of price drops. Be vigilant in your purchasing, and refer to buyers guides before you pick up any vehicle, as there can be a lot of variation between models and years.

Renewed cover

This technology can also be used to improve growth within your business. Dash-cam recorders and black box tech can be used to measure employee efficiency and to safeguard them from risk and injury by observing their driving standards and habits. Installing these across your fleet, whether new or upgraded, can have a noticeable boost on your business, as well as giving you a positive benefit on your insurance premiums by giving cover companies the information they need to provide the best rates to you.

2021 will be the year of opportunity for fleet operating businesses. A downturn in the auto market creates a huge chance to get upgrades or to get a new fleet altogether. What you should also do is pair this with a commitment to adopting new technologies and standards to make sure the entire picture of your operation is up-to-date.