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Wheels Inc.

Fleets to Participate in Green Driver Challenge

DES PLAINES, IL – NovoNordisk and SimplexGrinnell have signed up to participate in Wheels Inc.’s EcoWheels Green Driver Challenge, in which corporate fleet drivers and employees will learn about and pledge to adopt sustainable practices that minimize the environmental impact of their driving.

Focus on Fuel Efficiency

Challenging drivers to engage in more fuel-efficient driving practices is just one effective method for cutting down on fuel use and reducing a fleet’s carbon footprint.

Nearly 3,000 Fleet Drivers Compete in ‘Green’ Challenge

DES PLAINES, IL - Forty-one different corporate fleets from a range of North American companies were represented in Wheels, Inc.'s EcoWheels Green Driver Challenge. The ten-week program enlisted 2,970 corporate fleet vehicle drivers to pledge to incorporate sustainable driving habits into their daily routines.

The Cost of Operating a Fleet Will Increase

It will become more expensive to operate a fleet in the coming years. Vehicle acquisition costs will increase. Fuel prices, in all likelihood, will trend upward and maintenance costs will ratchet higher due to more companies adopting extended replacement schedules. In addition, vehicle-related taxes will increase. Let's examine the dynamics that will force fleet expenses to escalate.

Does LIBOR Still Correlate to Corporate Borrowing?

LIBOR was developed in 1984 as a measure of the real rate at which banks lend money to each other. Since the early 1990s, LIBOR has been used as a funding index for fleet leases. However, when the recent turmoil in the financial markets prompted governments to "backstop" bank borrowing, the cost of lending money began to represent a government-guaranteed rate, which no longer correlated to fleet lessor costs.

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