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Why Fleet Vehicle Purchasing Patterns Are Different Than Consumer Vehicle Purchasing Trends

(Rick Sander, CEO, Tuesday, April 21, 2020)

Our last two blogs examined some of the recent trends in the purchasing of both conventional automobiles and electric vehicles (EVs) by consumers. While these trends are interesting to those in the consumer automobile market, true for consumers, they are most definitely NOT particularly applicable to fleet vehicles. After all, if consumers are ditching their cars for ridesharing, someone has to be buying those vehicles that the rideshare drivers are driving!

One of the biggest differences in fleet vehicle acquisition vs consumer vehicle acquisition is the impact of “major players” (those who operate a fleet with 500 or more vehicles) – these operators represent two-thirds of the total fleet vehicles according to a recent Deloitte study. This, plus recent tax law changes, have resulted in the fleet vehicle growing to 19% of all vehicles sold in the US in 2019, up from 17.2% in 2017 according to Cox Automotive. Finally, Deloitte also found that fleets by and large employ “functional vehicles” – those that help employees get their jobs done. One of the biggest segments for fleets is light trucks, which represent 62% of all fleet sales (medium/heavy trucks represent 24% of fleet sales, while autos represent 14% of fleet sales). For these operators, vehicle-to-grid (V2G) charging is a way to reduce energy costs by putting power back on the grid during peak hours when it is most valuable, and taking power back during off-peak times when the power is cheapest.

As a leader in the development and manufacturing of bi-directional, high-power energy systems for both vehicle charging and photovoltaic solar applications, Rhombus is an expert in the area of V2G charging. Our VectorStat® hardware and software allows fleet customers to gather data from all of their infrastructure  nodes, regardless of connectivity or network issues, to effectively manage their energy resources. VectorStat’s applet-based open architecture also enables the easy integration of new features and functionality, whether to support new hardware or to provide cutting-edge data analytics capabilities. Find out how we can help you by contacting us at sales@rhombusenergy.com.

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