Industry Research

Limousine Industry Maintains Momentum

Posted on June 10, 2015 by - Also by this author

If the number of survey respondents could speak to the health of an industry, then this year’s results should signal strength.

The annual LCT Fact Book operator survey drew more than 460 respondents — the most since before the Great Recession — yielding a margin of error of +/- 4.3% and a 99% confidence level.

Of course, in the age of digital media — crammed e-mail boxes, relentless e-promos and blasts, and distracted attention spans — getting a survey done becomes all the more challenging. Once again, we took what we learned from previous surveys and further recalibrated, rephrased and revamped the questions and answer options to cut the time needed to fill it out.

Numbers and statistics can be sliced and diced many ways. These pages sum up straightforward results based on survey participation.

Overall, the number of limousine operators held steady, year over year, due to two reasons we have observed anecdotally and heard from informed sources:

1) The number of new limousine companies entering the industry has been growing, but

2) The number of mergers and acquisitions among established companies has risen as well [See p. 112].  

Meanwhile, the number of motorcoach operators stands about even as well, according to the American Bus Association, whose figures we cited.

When compiling the limo company total, LCT counts single owner/operators only, not the number of limousine companies, or DBAs (Doing Business As). One operator, for example, could own three separately branded and named transportation services. We count that operator as ONE, not THREE, which is more accurate from many standpoints, including vendor/suppliers. That single operator likely makes purchasing decisions for all three companies.

Most respondents, 55%, were small fleet operators (1-10 vehicles); followed by medium-size fleets, 32%, (11-50 vehicles); and large fleets, 13%, (51-plus vehicles).

One last caveat to remember: This annual survey, more than any other, was taken in the age of TNCs, apps, and explosion in part-time independent drivers for TNCs. The fact that the chauffeured transportation industry has held its own so far while adapting to major competitive shifts should be encouraging.

An industry focused on superior service quality, sound business integrity, industry involvement, technology adoption, and regulatory respect will propel operators forward.

Annual Big 5 Industry Stats & Annual Operator Survey

2015-2016 LCT Fact Book & Industry Guide

View comments or post a comment on this story. (0 Comments)

More News

What Trump Means For Fleet-Based Businesses

Fleet expert: "If Trump eventually rolls back regulations in the automotive sector, he would likely stimulate growth."

Did Trump Victory Bump Up Business Travel?

Any growth in late 2016 was a welcome surprise. Domestic business travel has a positive modest outlook because of more investment spending.

Small Businesses Most Optimistic Since 1980

The share of owners who say now is a good time to expand is three times the average during the recent expansion.

Business Travel Could Face Stiffer Challenges In 2017

Terrorism, Brexit, a China slowdown, rising oil prices, and immigration conflicts are weighing on the global travel market.

Corporate Travel Managers Reflect On Uncertain 2016

An annual report rounds-up the leading disruptions this year to the corporate travel sphere.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blogs

See More

See More

See More

See More

LCT Store

LCT Magazine - January 2017 $12.95 THE MONEY ISSUE COVER STORY: * Dashboard Helps Steer Company Finances * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close