Driving down costs should be a priority for businesses of every kind. The UK is in the middle of an economic malaise, and the pressure on business finances is considerable. If you’re investing a lot into vehicles and keeping them on the road, you might find that you’re feeling the squeeze more than everyone else. The good news for those in this position is that there’s considerable scope for improvement.
Business costs on the rise
Let’s take stock of a few of the economic factors that are biting particularly hard at the moment. First, there’s a sustained rise in energy costs. Then, there’s the fact that many industries are facing labour shortages. Supply chain issues are blighting many businesses, as the world is still recovering from the Covid-19 pandemic.
In some cases, these costs can be mitigated, or otherwise avoided. In others, the costs are unavoidable, and thus businesses are looking to find alternative ways to save. In the case of motoring, the costs are often associated with fuel – but there’s also the cost of the cars themselves and the materials needed to build them.
How to save on motoring
If motoring expenses are mounting for your business, you might consider a change in strategy.
Invest in electric vehicles
By making the switch to electric vehicles, you’ll make your fleet more resilient to changes in the price of oil. At this point, the future of the automotive industry looks inescapably battery-powered, and thus many businesses might take the decision to adopt early.
Invest in services and higher-quality parts that last longer
The failure rate of your vehicles can be reduced if you invest proactively in repairing and maintaining them. In practice, this means booking regular services, and swapping out parts for replacements from premium brands. Michelin tyres, for example, are available from online vendors.
Downsize
Reducing the amount of driving you’re doing will reduce your costs. Not every appointment and meeting has to be attended in person. If you can cut out longer trips in favour of a meeting on Zoom, the savings might be substantial.
Drive efficiently
By simply reducing your speed, and the harshness of your braking, you might cut down on your fuel consumption. Efficient driving is a complex discipline, but by learning the basic principles, you can make life on the road much more affordable.
Be tax-efficient
The government, and the exchequer, wants you to buy certain kinds of vehicles. The tax system is set up accordingly. You might find that electric vehicles work out more favourably than the alternatives. When making a purchasing decision, make sure that you’ve considered every cost involved.
