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Nexus Vehicle Rental in the UK suggests fleets that fail to adopt new technology waste a fifth on running costs.

The information comes from Trade Union Congress (TUC) research in Britain that suggests the monarch sits among the worst in the developed world for investing in new technology and takes the wooden spoon for spending on transport equipment out of the 34 Organisation for Economic Cooperation and Development (OECD) members.

Nexus analysed its 870 customers to find that average savings on daily rentals of up to 20 percent are being made via procedures within its online booking and management system IRIS. Examples include identifying leaking budgets caused by under-utilised vehicles and real-time management information (telematics) not being available.

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Nexus CEO David Brennan said the expected rise of vehicle costs waiting idly could be burning cash.

“With the cost of motoring expected to continue to increase against the backdrop of economic uncertainty it’s now more important than ever for businesses to be operating as efficiently as they can,” he said. “One way to do this is by reducing fleet costs.”

Mr Brennan says the different between a fleet getting familiar with tech-focussed solutions and those that don’t is around a fifth of a business’s overall spend. “Many organisations are missing out on the potential to improve operating efficiency,” he added.

“As a nation, we [the UK] rang way behind our neighbours in investment in technology due to a reluctence to increase spend but ultimately accessing innovative technology can make a major contribution to efficiency, using the analysis trends and usage in turn to become more profitable.”

This article was orignally sourced from