FI showroom red and grey logo
MenuMENU
SearchSEARCH

Fleets Eyeing the Upsides of EVs

Cox Automotive survey finds they can be a good fit for business needs.

July 24, 2024
Fleets Eyeing the Upsides of EVs

The survey found fleet operators tend to be more aware of and have a positive view of EV incentives.

Credit:

Pixabay

2 min to read


 

Though retail consumers may not be warming to electric vehicles as much as automakers had hoped, fleet customers appear to tell a different story.

A survey Cox Automotive conducted in the first quarter found that 14% of fleets have EVs and that there’s a 90% likelihood that they’ll add to them when they go back to the market. In fact, the vast majority of fleets currently with and without EVs anticipate adding them in the next five years, the Cox “Future of Fleets: Path to EV Adoption” report says.

Ad Loading...

“In many ways, electric vehicles can be an ideal solution for many fleet operations, which often have set routes of known distances, vehicles that routinely overnight in the same location, and operations that prioritize the cost of ownership,” said Cox Senior Analyst of Research and Market Intelligence Zo Rahim. “The fleet business is significant in the U.S. market, and we expect the EV share of the fleet market to expand in the coming years.”

Fleet operators tend to be more aware of and have a positive view of EV incentives, Cox says.

They have similar adoption concerns as retail consumers, though, the study found: higher prices, spotty public chargers, low range between charges, and battery costs.

In a departure, 48% of fleet operators say they’re more satisfied with EVs than with gas-powered models when it comes to maintenance. They also say they’re more satisfied overall with the EVs in their fleets than with the internal-combustion-engine vehicles they have and with the total cost of EV ownership.

“There are certainly challenges in shifting a business away from traditional ICE powertrains, but if owners and operators are generally satisfied with the outcome and see tangible savings, EV adoption could certainly accelerate through the end of the decade,” Rahim said.

Ad Loading...

Originally posted on Auto Dealer Today

More Industry

photo of tractor-trailers moving on a rural U.S. highway
Industryby Hannah MitchellAugust 10, 2026

Auto Industry Execs Talk Trade, Tariffs

Participants in a U.S.-Canada discussion tallied the costs and compiled a list of remedies, including preservation of the North American trade agreement that the U.S. recently declined to renew.

Read More →
newspaper advertisement circled in pink, Turn Listings into Leads, F&I and Showroom
Digitalby Lauren LawrenceAugust 5, 2026

Structure Leads to Optimized Auto Listings

As the average car-buying journey has shifted to a blend of digital and retail, a dealership’s vehicle listings must be optimized to answer shoppers’ questions clearly and accurately.

Read More →
Photo of the exterior of a recently purchased Mazda car dealership with cars for sale parked in front
Industryby Hannah MitchellAugust 3, 2026

Texas Dealerships Rebranded After Sale

The Norm Reeves group of stores had owned the three rooftops in the greater Dallas-Fort Worth metro area that now operate under a homegrown group’s signature.

Read More →
Ad Loading...
Man climbing ladder in front of mountain landscape.
Auto Financeby Lauren LawrenceAugust 3, 2026

Positive Equity Reaches Record High

Mainstream vehicle owners who bought a car seven years ago are likely to have positive equity when trading in for a new vehicle, according to second-quarter Edmunds data.

Read More →
The words 'Team Work" written on a digital blackboard with writing implements and other office supplies around it
Industryby Hannah MitchellAugust 1, 2026

All on One Team

Since finance-and-insurance was added to the auto dealership, most stores’ F&I teams have been separated from sales like a car’s trunk is separated from the engine. It doesn’t have to – and shouldn’t – be that way.

Read More →
Photo of an land-line phone on a desk with various office supplies
Industryby Hannah MitchellJuly 29, 2026

Auto Dealers Have Some Phone Homework

A midyear study found that stores can do a better job of converting both inbound and outbound calls into customer appointments for increased sales.

Read More →
Ad Loading...
Photo of Ioniq 5 SUV moving on two-lane road next to treeline
Industryby Hannah MitchellJuly 27, 2026

Hyundai Ventures Aim for Deeper AI Dive

The automaker announced partnerships with several technology industry leaders to pursue an ambitious plan for integrating AI into its manufacturing and well beyond automotive.

Read More →
a line of people sitting down with paperwork in their hands
Industryby Lauren LawrenceJuly 27, 2026

Early Intervention Saves Retention

Sales and service departments have the highest annual dealership turnover rates, according to a new industry report, costing money and time that could be better spent elsewhere.

Read More →
Twilight of white hybrid car.
Showroomby Lauren LawrenceJuly 22, 2026

California Hybrids Reach State Record

The Golden State still leads the country in electric-vehicle registrations, but much like the rest of the U.S. its hybrid market share is up while full electrics stabilize after a dramatic first-quarter dip.

Read More →
Ad Loading...
desert road with cars driving away, Rebates Incoming with red star graphic, F&I and Showroom logo
Showroomby Lauren LawrenceJuly 15, 2026

California Launches EV Rebate Program

Participating automakers are matching the state's $13.5 million investment in new electric-vehicle rebates scheduled to take effect later this summer.

Read More →