Bored of Brexit?
by Fiona Taylor
You still need to think about how Brexit will affect you and your company vehicles?
There has been much talk since we all woke up on 24 June this year about what has happened, what will happen, and how it will affect all of us. Whether you were in favour of Brexit or were strongly against it, there didn’t seem to be any middle ground, we are all in the same position now, and it is worth thinking about how this will affect our businesses and vehicles moving forward.
Looping news stories have given us doom and gloom about the economy, they predict that Sterling will either remain where it is against the Euro and Dollar (since the Brexit drop) or will fall further. This, they say, will push up inflation, cars will cost more, and fuel will cost more as it is traded in dollars.
We heard a lot of people deferring business decisions until after the vote. Understandable in a way as you want to know where you will stand, however we have at least a couple of years of negotiations before we leave, so isn’t now a good time to get your business in order?
What should we do now?
Is it worth assuming that your budgets set at the beginning of the year will change now – or are you secure enough to keep them the same? Have you already seen an increase in costs? If your annual fuel bill is one of your biggest expenses now is the time to get it under control.
So, what changes could you make to reduce costs?
Fuel cards – Do you have fuel cards? Can you keep track of the spend against the business mileage, are you charging the private mileage back to your drivers?
Telematics – Do you have vehicle tracking? A vehicle tracking system will show you how and when your vehicles are being driven. Are your drivers heavy footed and using more fuel this way? Are they going the long way round? Are they parked up with the ignition running for long periods of time?
Vehicles – If you are likely to need less cars in the future don’t buy new ones now or tie yourself into a new 3 or 4 year lease, you could keep hold of the vehicles that you have for a little longer, or why not talk to your leasing company about a short term lease?
Is it worth reviewing the current process you have in place for your company vehicles? Could a change in insurer, supplier or way the vehicles are funded have a big effect on your cash flow and business moving forward?
If you would like a chat about how vehicle tracking can help your fleet, or would like to review the vehicle tracking system that you currently have then please give us a call on 01274 587748 and one of the team will be more than happy to help you.
Fiona Taylor
Fiona Taylor is the Sales Manager at award winning Satmo Vehicle Tracking. If you feel you need help with your fleet, want to gain back control, save some money and time then please get in touch.
