A recent global report by Geotab on the state of commercial transportation in Q1, 2024, reveals a significant shift towards electric vehicles (EVs) among Canadian commercial fleets, showing a remarkable 67% increase in EV adoption year-over-year.
This report sheds light on the evolving trends, challenges, and opportunities within the commercial transportation sector. Notably, fleets utilizing Geotab’s proactive safety features, including predictive data intelligence, have experienced a 40% reduction in collision rates globally. Canadian fleets, in particular, are making strides in operational efficiency and sustainability.
Fleet Efficiency Metrics
One key metric, the trips-to-hour ratio—which measures the number of trips made per hour of operation—has improved by 1.19% from 2022 to 2023. This improvement is likely due to better logistical planning, the adoption of advanced route management technologies, and strategic changes in fleet management aimed at optimizing trip schedules.
Additionally, the average duration of drive time per day has decreased by 2.53%, reflecting a reduction in the total hours spent driving each day among Canadian fleets.
Sustainability Efforts
Canadian fleets are also making significant progress in sustainability. Alongside the 67% increase in EV adoption, there has been a 5.73% reduction in idling time, bringing it down to 0.41 hours daily. This reduction highlights the commitment to minimizing environmental impact and enhancing fuel efficiency.
In comparison, the United States has seen an even more substantial 81% increase in EV adoption and a 3.75% reduction in idling times.
The Future of EV Adoption
Geotab predicts that EV sales will continue to rise throughout 2024, with EV sales in the United States having set a new record in 2023 by surpassing 1 million units sold. This growth is expected to persist despite economic pressures. Key factors driving EV adoption include the falling prices of EV batteries, increasing availability of vehicle options, and approaching price-parity with gas vehicles, anticipated to occur in Europe as early as 2024.
The commercial sector is also experiencing robust year-over-year growth in EV adoption, driven by government mandates, incentives, enterprise sustainability commitments, and positive performance outcomes.
Explore Zero Emission Solutions
As the shift towards zero-emission vehicles accelerates, now is the perfect time for businesses to explore the benefits of greening their fleets. Contact our team today to discover how we can support your transition to a more sustainable, efficient fleet with zero-emission vehicles.
More information on Geotab’s report can be found here: https://www.geotab.com/state-of-commercial-transportation-2023/