Key findings: Fleet vehicle leasing
This procurement market intelligence report analyzes the impact of the cost and volume drivers on the fleet vehicle leasing pricing strategies in different regions. The report also analyzes the US supply market, offers strategic sourcing insights, and category management objectives to facilitate optimal and cost-effective fleet vehicle leasing procurement.
The growing focus towards reducing the total cost of owning a vehicle and to comply with the environmental norms and regulations are primarily driving the spend momentum for the fleet vehicle leasing market. Recent trends imply the preference of corporate buyers for shared mobility services rather than owning a car. This is observed to exert significant influence on the growth of the fleet vehicle leasing market. However, the increasing input cost such as fuel and materials, including rubber, aluminum, copper, and steel will compel the car manufacturers to shoot up their selling price. This will pose a significant procurement challenge for buyers looking to procure in this market.
To know more about the year-over-year spend growth rate, and specific fleet vehicle leasing strategic sourcing insights, download a free sample report.
This fleet vehicle leasing procurement market intelligence report highlights the potential procurement challenges faced by buyers in the market and makes suitable recommendations to combat the same. It offers insights into fleet vehicle leasing pricing strategies to procure at the best market rates. Highlights of the fleet vehicle leasing strategic sourcing and category management objectives are strictly in line with the current market dynamics that will aid buyers in improving their supply market performance.
- Global and regional spend potential for fleet vehicle leasing for the period of 2018-2023
- Fleet vehicle leasing strategic sourcing objectives
- Incumbent supplier evaluation metrics
- Pricing outlook and factors influencing the pricing strategies
Analyze the global category spend for fleet vehicle leasing
Out of the category segments, that are open- and closed-end lease, the former segment is predicted to grow at an impressive rate because of the flexibility offered to buyers to clear the lease amount. Increasing demand for mobility solutions is propelling the spend growth rate of the private leasing segment, which is a sub-category of fleet vehicle leasing market. However, the growth of this market will hit a few roadblocks during the forecast period because of factors like dynamic consumer preferences, instability of the financial sector, among others.
For more information on the exact spend growth rate and yearly category spend, download a free sample.
This fleet vehicle leasing procurement market intelligence report covers:
- Regional spend dynamism and factors impacting costs
- Total cost of ownership and cost-saving opportunities
- Strategic sourcing and fleet vehicle leasing pricing strategies
Optimize category spend for fleet vehicle leasing
Lack of visibility on the entire leasing fees structure frequently result in overriding expenditure for buyers. It is recommended that buyers ensure that the service providers furnish the detailed fee structure that is inclusive of expenditure such as VAT, disposition fees, interest rates, and other taxes charged by service providers. This will enable buyers to analyze their total cost of ownership and devise their pricing strategies accordingly to realize their cost-savings goals in the fleet vehicle leasing market.
This fleet vehicle leasing procurement market intelligence report covers:
- Key category management objectives
- Supplier cost breakup
- Fleet vehicle leasing pricing strategies
Assess category spend for the US region
The fleet vehicle leasing market attributes its impressive spend growth rate to the increasing demand from the millennials in the US, which is accounting for over 10% of all the leases in the country. The emergence of the car-sharing business model and the eventual adoption of technologies such as telematics are boosting the viability of the category, therefore, supplementing the growth of the fleet vehicle leasing market in the US.
Additional information offered in this fleet vehicle leasing procurement market intelligence report will help buyers analyze:
- Margins of suppliers in the US
- Category spend in the US
- Price outlook and forecasts until 2023
Build strategies for effective supplier selection
Engaging with suppliers that can offer customized services at standardized rates can aid buyers in achieving significant cost-savings in the market. This will also give buyers the liberty to choose services that are specific to their needs, which will help them achieve optimal spending in the fleet vehicle leasing market.
This fleet vehicle leasing procurement market intelligence report identifies the major costs incurred by suppliers and provides additional information on:
- Competitiveness index for suppliers
- Market favorability index for suppliers
- Supplier and buyer KPIs
Devise effective category management strategies for fleet vehicle leasing
Assuring continuous supply is considered as one of the critical category management objectives for buyers to avoid delays and the resultant interruptions in the buyer’s business activities.
Key insights offered in this procurement market intelligence report will help the buyers identify:
- Category management and fleet vehicle leasing strategic sourcing objectives
- Cost-saving opportunities: Supply-side levers
- Supplier relationship management strategies
Determine the spend dynamics for key geographies
Developed economies such as Europe and North America are the leading subscribers of the fleet vehicle leasing services. Factors like consumer preference toward shared mobility and autonomous vehicles and an increase in corporate client base are credited to lead North America to the top spot in terms of category spend. This category is yet to be fully explored by buyers in the developing nations, which, on the other hand, boosts growth opportunities for the category services providers in the region.
Key geographies analyzed in this fleet vehicle leasing procurement market intelligence report include the following:
- North America
- South America
Information on the top fleet vehicle leasing suppliers, granular insights into factors that are defining the fleet vehicle leasing pricing strategies, an overview of strategic sourcing and category management objectives are offered in this market intelligence report. Download a free sample to access the report’s complete scope of coverage.
Key Features of Report
Procurement Best Practices
Cost Saving Opportunities
Supplier Capability Matrix
Fleet Vehicle Leasing - Category Spend Analysis
According to SpendEdge analysts, one of the key growth contributors for global fleet vehicle leasing supply market is growing demand for open-ended terminal rental adjustment clause leases due to the high flexibility provided to organizations to control vehicle resale value and timing.
Fleet Vehicle Leasing – Procurement Best Practices
Buyers must ensure that suppliers offer programs that will ensure routine maintenance. This helps to reduce future maintenance of vehicles and downtime. A key strategy adopted by procurement managers in this market space is to engage with suppliers who have the ability to provide maintenance plan.
Fleet Vehicle Leasing - Procurement Challenges
A major procurement pain point experienced by the buyers is the high volatility of fuel costs. SpendEdge’s procurement specialists predict that the buyers must engage with suppliers that adopt fuel management programs to counter this specific procurement pain point.