The coronavirus pandemic is firstly a human tragedy that is affecting hundreds of thousands of people. It is also seriously affecting all elements of the global economy. World governments have either imposed an almost total lockdown or containment measures in our daily activity for a significant period regardless of the economic cost.
Many companies have developed digital solutions and home working solutions but this is not possible for all kind of jobs.
Indeed, during this period, we have seen the development of e-commerce, online purchase requiring transportation of goods, food shopping deliveries and service activities such as elevators or plumbers or others. All these activities have one common point: they use LCVs.
What is the impact of COVID-19 on LCVs fleet management?
It is important for anyone responsible for running a fleet to be aware of the best financing solution for their company and fleet. You should question and consider wether you are funding your vehicles in the most effectice way.
By using a ‘Total Cost of Ownership’ (TCO) methodology a company can ensure that all aspects of the cost of operating a vehicle is considered and calculated rather than just the cost of the vehicle or the monthly rental.