In the vehicle rental industry, vehicle downtime is a critical challenge that can significantly affect profitability and customer satisfaction. At Prohire Software, we have a brilliant solution that helps tackle this industry issue: our vehicle tracking solutions. Recent findings from the 2024 Arval Mobility Observatory Fleet and Mobility Barometer emphasise the urgency of this issue, showing that nearly 18% of fleets have experienced increased car and van downtime over the past 12-18 months.
Even more concerning is that 59% of these fleets reported downtime lasting over a month. As a result, more than half (52%) seek manufacturers who can supply better parts to mitigate these operational disruptions.
Many businesses are adopting advanced vehicle tracking solutions to address this growing issue. These systems provide real-time insights into vehicle performance, enabling companies to address potential problems before they escalate proactively. By leveraging this technology, businesses can reduce downtime, boost efficiency, and maintain their competitive edge in a demanding marketplace.
Understanding the Financial Implications of Vehicle Downtime
Vehicle downtime isn’t just an inconvenience—it carries severe financial consequences. Consider these key impacts:
Lost Revenue: When a vehicle is out of service, companies lose the ability to meet customer demand. In the rental industry, this translates to lost income from unfulfilled rentals.
Increased Operational Costs: Emergency repairs and unscheduled maintenance often come with inflated costs for labour, parts, and temporary replacement solutions.
Customer Dissatisfaction: Delays caused by vehicle unavailability can damage a company’s reputation, lessening customer loyalty and future opportunities.
Prohire Trackers provide a solution. Clare from our Customer Success Team explains, “As a vehicle is tracked in real-time, a rental company can see whether the vehicle will be returned late. The rental company can then prep another vehicle or arrange for the late vehicle to be turned around quickly, ensuring a suitable vehicle is ready for their customer.” Rhys, a support team member, points out, “Prohire Tracker gives Rental companies full control of their fleet with live tracking and detailed trip views.” Prohire trackers allow their users to keep track of the live location of their vehicles and their trip history, informing them of the exact whereabouts of their vehicles at any time.
Vehicle tracking solutions offer a comprehensive approach to fleet management, helping businesses minimise the risks and costs associated with downtime. Here’s how:
Accident and Incident Management
Immediate Response: In the event of an accident or breakdown, vehicle tracking systems provide critical location data, enabling faster response and recovery, minimising downtime and helping vehicles get back on the road sooner.
Unlike other tracking software, Prohire Tracker has a crash and impact function that will alert you when a crash has occurred.
Miles Ellis, Operations Director at Beehire Car and Van Rentals, told us that thanks to implementing Prohire Trackers, “We can easily dispatch resources, whether that be our own team or breakdown agencies, to the right place, first time to support our customer best.”
Driver Behaviour Monitoring: Tracking driver behaviour helps businesses identify risky practices that may cause accidents. By addressing these behaviours through training, companies can enhance safety and reduce costly incidents.
With Prohire Trackers, you can set up custom alerts that notify you immediately of risky driving, such as crashes, impacts, or speeding. Additionally, our Tracking Technology permits the creation of geo-fences that alert you immediately when your vehicle enters an unauthorised zone.
Clare adds that Geo fences are particularly popular amongst Prohire Tracker users. “Customers have reported that the geofencing facility has helped them identify customers who try to take vehicles abroad without having had this agreed with the hire company. They have also seen customers trying to use a vehicle for uninsured activities—such as courier services.”
With this simple security measure, you can reduce loss, theft, and unnecessary vehicle damage and avoid operational disruptions.
Harnessing the Power of Vehicle Tracking
Implementing a robust vehicle tracking system is vital to minimising downtime while promoting a culture of continuous improvement. By utilising real-time data and analytics, businesses can refine their operations, leading to enhanced efficiency, reduced costs, and improved service delivery. This proactive approach empowers companies to adapt quickly to changing market conditions and customer demands, ensuring long-term success.
The financial impact of vehicle downtime can disrupt profitability, customer satisfaction, and business reputation.
Paul Herbert, Director of Traffic Self Drive, believes Prohire Trackers are “the perfect tool for fleet management. I can book vehicles back-to-back as I feel confident that if a van is not returned, I can check the location and contact the hirer before the next customer arrives”.
Prohire’s advanced vehicle tracking systems help businesses overcome these challenges by enabling proactive maintenance, real-time monitoring, and actionable insights. Embrace the power of vehicle tracking to transform downtime into uptime and maintain a competitive edge in the industry.
