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WEX Inc. will begin managing the fleet fuel card program of Valero Energy Corp. under a new partnership, the Portland, Maine-based payment provider has announced.
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In today’s era of tight budgets, truck fleet managers are using innovative ways from rightsizing to decreasing maintenance costs to shortcycling to save money and boost efficiency.
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Although 2013 is shaping up to be comparable to 2012, some commercial fleets are increasing vehicle orders due to improved business or accelerating replacement schedules to take advantage of the strong used-vehicle market.
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Corporations continue to be uncertain about the strength of the economic recovery. As a result, companies remain cautious about their fleet ordering volumes. Many are right-sizing vehicles and lengthening replacement cycles.
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Since extending its replacement cycle in 2004, Valero saved more than $200,000 per year for a total of $654,000 through 2007.
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