Industry Research

Operators Ready To Buy More Fleet Vehicles

Martin Romjue
Posted on October 4, 2017
A scene from the 2017 International LCT Show exhibits in Las Vegas, where vehicle purchasing dreams really do come true (LCT photo)

A scene from the 2017 International LCT Show exhibits in Las Vegas, where vehicle purchasing dreams really do come true (LCT photo)

More than four out of five limousine operations ranging across all fleet categories plan to buy vehicles during the next 12 months, an LCT survey shows.

Among some of the standout results:

• 83% of the entire industry operator market plans to buy vehicles, including 77% of all operators with one to 10 vehicle fleets and 94% of those with 11-50 vehicles fleets. All larger fleets by virtue of their size inevitably will turn over vehicles during the next year.

• On average, 58% of the industry spends up to $100,000 on new vehicles per year, and another 30% between $100,000 and $300,000.

• For shuttle buses, a growing client segment in the chauffeured transportation industry, 32% of 1-10 vehicle operators want to buy two to five of them; 64% of 11-50 vehicle operators plan to do so and 63% of 51+ plus vehicle operators will do the same.

• For van purchases, 33% overall said they plan to buy one van in the coming year; 13%, two vans; and 6%, more than two vans.

• In a key sign of industry potential and market trends, two-thirds of operators with 51 or more vehicles indicated they plan to buy at least two motorcoaches during the next year.

In choosing which manufacturer, coachbuilder, or converter to buy vehicles from, operators listed these factors in order of importance when making decisions:

1. Innovation/design; construction; performance
2. Strong customer support
3. Lowest total cost of ownership
4. Technology/amenities
5. Availability/delivery
6. Safety features
7. Alt-fuel/other

LCT queried its widest possible operator buyer database via an online Survey Monkey form in August.

The LCT-NLA Show East trade show Nov. 5-7 in Atlantic City, N.J. will bring most major chauffeured vehicle brands and manufacturers in one place, and include the first ever Motorcoach Pavilion at Harrah's Resort Casino.

Related Topics: bus market, buying vehicles, Fleet Vehicles, industry surveys, LCT-NLA Show East, minivans, motorcoaches, research and trends, shuttle buses, vehicle purchasing

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