- 61 per cent are prioritizing lowering total cost of ownership to offset inflation
- 73 per cent are prioritizing vehicle ordering and replacement
- 60 per cent of respondents without existing EV initiatives are interested in adding hybrid vehicles or other alternative fuel vehicles
TORONTO, April 16, 2025 (GLOBE NEWSWIRE) -- Element Fleet Management Corp. (TSX:EFN) ("Element" or the "Company"), the largest publicly traded, pure-play automotive fleet manager in the world, today released its 2025 Market Pulse Report. The report, grounded in data analysis and industry insights across its clients’ fleets from the U.S. and Canada, delves into the business priorities driving fleet management decisions in the year ahead.
"The annual Market Pulse Report provides a comprehensive and collective summary of reflections and analysis from business and fleet leaders and serves as an invaluable resource for our clients and industry at large," says David Madrigal, Element’s Executive Vice President and Chief Commercial Officer. "This year's report offers a roadmap for our clients, helping them navigate through an ever-evolving business landscape, ensuring they have access to the key insights they need to deliver on their business objectives through safer, smarter, and more efficient fleet solutions.
Key insights from the report include:
- Shifting fleet priorities: Operational stability has become the priority over strategic investments. Respondents identified ordering and vehicle replacement (73 per cent), cost savings (61 per cent) and driver safety (53 per cent) are their top priorities for the year.
- Increased interest in hybrid vehicles: More than 60 per cent of respondents are exploring hybrid vehicles, as a practical alternative to transitioning to full EVs.
- Strong focus on driver behaviour: The majority of organizations interviewed (80 per cent) are planning to implement driver safety initiatives; however, only half (51 per cent) are already actively using the latest driving safety technology.
- A return to normal markets: Used car prices have settled in the U.S. and Canada, providing more predictability for planning and vehicle strategies.
"As a Purpose-driven organization, one way we Move the world through intelligent mobility is by providing pro-active, client-centered insights that enable businesses to make decisions more confidently,” says Steve Jastrow, Senior Vice President, Advisory and Analytics at Element. “Our goal with this report is to offer a closer look at the factors shaping attitudes, strategies, and best practices in the fleet management industry.
The 2025 Market Pulse Report is the result of an annual survey conducted by Element with fleet operators across Canada and U.S. The report provides a clear view of current priorities and pressing challenges fleets are facing as they plan and strategize for the year ahead. Read the report here: elementfleet.com/move
About Element Fleet Management
Element Fleet Management (TSX: EFN) is the largest publicly traded pure-play automotive fleet manager in the world. As a Purpose-driven company, we provide a full range of services, addressing every aspect of our clients’ fleet requirements. Clients benefit from Element's expertise as one of the largest fleet solutions providers in its markets, offering economies of scale and insight used to reduce operating costs and enhance efficiency and performance. At Element, we maximize our clients’ fleet so they can focus on growing their business. For more information, please visit: www.elementfleet.com.
This press release contains certain forward-looking statements and forward-looking information regarding Element, its business and the fleet industry, which are based upon Element’s current expectations, estimates, projections, assumptions and beliefs. In some cases, words such as “plan”, “expect”, “intend”, “believe” and other similar words, or statements that certain events or conditions “may” or “will” occur are intended to identify forward-looking statements and forward-looking information. These statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in the forward-looking statements or information. Forward-looking statements and information in this news release may include, but are not limited to, statements with respect to, among other things, the Company’s expectations regarding industry trends, market dynamics and client preferences. By their nature, these statements require us to make assumptions and are subject to inherent risks and uncertainties that may be general or specific, which give rise to the possibility that our predictions, forecasts, projections, expectations or conclusions will not prove to be accurate, that our assumptions may not be correct. External factors outside of Element’s reasonable control may impact our ability to achieve our goals and expectations, including industry dynamics, legislation and regulatory actions, and client decisions and preferences. These and other factors may cause actual results to differ materially from the expectations expressed in the forward-looking statements and may require Element to adjust its initiatives and activities. The forward-looking statements in this news release speak only as of the date hereof and are presented for the purpose of assisting our stakeholders and others in understanding our objectives and strategic priorities and may not be appropriate for other purposes. We do not undertake to update any forward-looking statement except as required by law. In addition, a discussion of some of the material risks affecting Element and its business appears under the heading “Risk Management & Risk Factors” in Element’s Management Discussion and Analysis for the twelve-month period ended December 31, 2024, and under the heading “Risk Factors” in Element’s Annual Information Form for the year ended December 31, 2024, as well as Element’s other filings with the Canadian securities regulatory authorities, which have been filed on SEDAR+ and can be accessed on Element’s profile on www.sedarplus.com.
Media Contact: Amanda Mills Sirois Senior Manager, Corporate Affairs (437) 352-1050 amillssirois@elementcorp.com
