agent Entrepreneur 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

Blue and white RV parked on beach facing the ocean.
Industryby Lauren LawrenceSeptember 3, 2026

RV Group Expands Carolina Footprint

Blue Compass RV Columbia Northeast is the 13th RV dealership owned by Blue Compass in the Carolinas.

Read More →
Photo of two men and one woman on a discussion panel
Industryby Hannah MitchellSeptember 1, 2026

Agent Acumen

An Agent Summit panel of people who’ve been supporting auto dealers for years gave both timely and timeless advice for those starting out or mulling the prospect.

Read More →
Gloved hand holding two wrenches next to “Turn Overdue into Opportunity” Graphic
Industryby Lauren LawrenceAugust 27, 2026

Missed Maintenance Creates Opportunity

As families get back on the road and into daily school routines, service drives have an opportunity to capture customers who are behind on recommended vehicle maintenance.

Read More →
Ad Loading...
Mitsubishi shadow line-up
Industryby Hannah MitchellAugust 25, 2026

Mitsubishi Unveils U.S. Plan

The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.

Read More →
Photo of a laptop, cellphone and eyeglasses on a desk next to an office window
IndustryAugust 24, 2026

Selling to Grow

The question of whether you should sell your agency and if so, when, is up to you. But it’s a question worth asking to ensure you keep the business on the right path for yourself, employees and clients.

Read More →
Mechanic holding a vehicle diagnostic device while standing above an open car hood
Industryby Hannah MitchellAugust 24, 2026

Recalled Vehicles Hit 5-Year High

Though the number of events has fallen so far this year, impacted units are up significantly. Meanwhile, regulators consider consumer notification changes.

Read More →
Ad Loading...
outside of car dealership with cars parked in front
Industryby Lauren LawrenceAugust 20, 2026

Auto Group Acquires Top-Performing Rooftop

Car Pros sold its Kia Huntington Beach location to Sutherlin Automotive Group, marking the buyer’s third location in Southern California.

Read More →
Cars from the rear on a Shanghai freeway
Industryby Hannah MitchellAugust 19, 2026

China as Pacesetter

Automotive leaders huddled on where North America stands in the global picture and how it can strengthen its position against the Asian juggernaut’s surging industry.

Read More →
Orange BMW car on empty road.
Industryby Hannah MitchellAugust 14, 2026

BMW Concept Car Makes Fuel to Burn

The prototype developed in concert with a South Carolina university engineering team generates more solar energy than it uses in a typical daily commute.

Read More →
Ad Loading...
Six men standing for photo outside of car dealership
Industryby Lauren LawrenceAugust 13, 2026

South Carolina Auto Group Downsizes

Florida-based group Holler-Classic has acquired four rooftops, its first in South Carolina, from Dick Smith Automotive Group.

Read More →
Ad Loading...