Passenger Fleets
Private Passenger Fleets are predominately used as transportation for highly skilled employees. Typically the largest fleets are in mobile sales forces and professional service people. These fleets are prevalent in the pharmaceutical, healthcare, insurance and financial services markets. A typical pharmaceutical company values an hour of their sales people’s time at $400. Taking that person off the road because of an accident, even a minor one, is wasted expense. A fleet of 5000 sales people, with 20% of them having some kind of accident, at an average 'out of territory' time of four hours. That's $1,600,000 in lost productivity. And that figure does not account for the potential loss in sales.
For-Hire Fleet Companies
Commercial fleets carry 84% of the nation’s freight and generate an economic impact of over $2 trillion annually. The For-Hire segment consists of approximately 2.5 million vehicles and generates $655 billion in revenue. The distinguishing characteristic of this segment is that they haul freight as their core business. This business is intensely competitive and typically operating profit is fairly low at an average of 4.8 cents on the dollar. FleetRisk Advisors can help For-Hire companies reduce accidents and incidents, decrease service failures, hire and retain the best drivers, optimize fuel utilization and more through our Operational Business Intelligence solutions.
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Service and Delivery Fleets
The Service and Delivery segment includes approximately 10 million vehicles. These vehicles are used deliver products and services to end-customers; for example, pest control, home food sales, cable TV and phone installation, cleaning services companies to name a few. These drivers are typically tasked with far more than driving; that is simply a means to the end. Keeping these employees safe and productive leads to increased productivity, greater revenue, and lower ‘wasted’ expense.
Private Fleets
The Private Fleet segment is made up of 5.5 million large trucks, twice as many as the For-Hire segment, that principally support another core business such as retail, agriculture, manufacturing, or grocery. Private Fleets transport $2.3 trillion dollars of goods and merchandise, and nearly 52% of the tonnage hauled in the U.S. This segment shares most of the same challenges as the For-Hire segment, with arguably more emphasis on service failures and wasted expense.
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