According to the FBI, there were 765,484 vehicle thefts in 2016. That works out to 237 thefts per 100,000 inhabitants resulting in $5.9 billion in losses. For locally stolen motor vehicles, only 42% were ever recovered and those that were recovered were often damaged. Fleet owners can avoid tremendous losses in terms of assets and lost productivity if thefts can be identified quickly and the vehicle recovered before being damaged. Of course, if the theft can be avoided completely, the savings are massive.
We talk a lot about how GPS tracking increases productivity generally because the people who are thinking of purchasing a system want to know how the initial investment can save them money. So, we spend a lot of time explaining how a GPS tracking system can pay for itself in as little as one month of use through improved productivity, reduced fuel costs and lower insurance rates. But, there are also driver safety impacts that are important.
Ever wondered how GPS tracking works? Whether it is for fleet tracking, asset tracking or personal tracking (or pet tracking!), the principles are the same. Here, we’ll give you an overview of a GPS tracking system.
GPS Fleet Tracking solutions have become very popular since the return on investment is immediate and persistent. Often companies report paying for the full cost of the system in the very first month of use. Depending on the industry, it might take a few months to recover the cost but there are few solutions that deliver benefits so quickly.
Can you reduce insurance costs without reducing coverage? The answer is "Yes", with the implementation of a GPS tracking solution.
GPS tracking systems can provide your company with valuable information that will allow you to improve driver behavior. This results in direct savings for your organization in vehicle maintenance costs but more importantly, it improves the safety of your fleet through proper driving habits.
Fuel cost and vehicle maintenance are two of the largest expenses for fleet companies. Whether your company has a fleet of cars, light duty to heavy duty trucks, or a combination of all, vehicle maintenance and fuel costs continue to have a negative impact on a company’s profit.
Your Fleet is the life blood of your company revenue and the costs associated with the company vehicle are very high and directly affect your bottom line. By performing preventative maintenance on your vehicles at regular intervals, the outcome is reliable vehicles and avoiding the big expensive maintenance costs.
Don’t Underestimate the value of Landmarks and the use of their associated Alerts and Reporting Data!