
Fuel costs, the largest fleet operating expense, declined dramatically in the 2009 calendar-year due to a sharp decline in worldwide consumption. Also, many fleets have downsized, which contributed to a lower overall fuel spend.
Fuel costs, the largest fleet operating expense, declined dramatically in the 2009 calendar-year due to a sharp decline in worldwide consumption. Also, many fleets have downsized, which contributed to a lower overall fuel spend.
OTD was affected by plant closures due to Chapter 11 reorganizations by GM and Chrysler, an economic downturn that decreased fleet and retail sales, and shipping delays caused by less-than-full loads for railcars and transporters.
LIBOR was developed in 1984 as a measure of the real rate at which banks lend money to each other. Since the early 1990s, LIBOR has been used as a funding index for fleet leases. However, when the recent turmoil in the financial markets prompted governments to "backstop" bank borrowing, the cost of lending money began to represent a government-guaranteed rate, which no longer correlated to fleet lessor costs.
ITASCA, IL – EMKAY, Inc. announced the launch of the Fleet Industry's first online tool for auctions/wholesale dealers to view web-based vehicle maintenance history.
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