Countless vehicle innovations are on the horizon, and transportation fleets will have to update their vehicles if they want to remain competitive. Such innovations as a widespread push for eco-friendly vehicles, internet-connected vehicles, and self-driving vehicles pose excellent opportunities for transportation companies. As fleets purchase new, innovative vehicles to maintain a competitive edge, older ones will have to be retired, leaving transportation companies with an abundance of surplus assets.
Read on to discover key innovations that are driving change in the transportation industry and how an expert surplus asset management partner can help transportation organizations maximize value for the surplus that results.
How Will Vehicle Innovations Affect the Transportation Industry?
Here are just a few of the trends that may have a marked impact on transportation over the next few years:
- Eco-friendly vehicles. Gasoline consumption is down eight percent across the transportation sector, and one key reason for this is that consumers and businesses alike want energy-efficient vehicles for their benefits to the environment and cost savings.1 Moreover, it has been projected that 5.2 billion people will be living in cities by 2050. This will create a need for energy-efficient, modern transport systems that reduce congestion and air pollution.2
- Autonomous vehicles. On-demand car services like Uber could bring on substantial fleets of self-driving cars in the near future, and Google continues to refine its self-driving vehicle prototypes. While self-driving fleets are probably still several years, perhaps decades, away, transportation companies may eventually be able to replace portions of their fleets with self-driving models, leaving them with surplus vehicles and the need to sell them.3
- Connected vehicles. Vehicles are being fitted with embedded connective technologies that communicate with the manufacturer and owner. These could be major cost savers, since the communicative capabilities allow users and manufacturers to carry out predictive maintenance and prolong the life of the vehicles.4
With so many innovations in this sector that will reach the market soon, it’s impossible to create an exhaustive list of them all. Regardless, it’s clear that transportation companies will benefit from investing in new improved vehicles to stay ahead of competitors.
The global transportation industry is in the midst of an evolution that will dramatically alter the way companies operate.
How a Surplus Asset Management Partner Will Help Prepare Transportation for The Future
Transportation companies that upgrade their vehicles with new technologies will end up with surplus in the form of outdated vehicles. A trusted surplus asset management partner will maximize value for this surplus by managing, valuing, and selling it on the secondary market. Here’s what you should look for in an expert provider:
- Global reach. A partner with a wide range of online marketplaces allows you to resell your goods to millions of buyers from all over the world.
- Expert multichannel marketing and sales strategies. A partner with these capabilities allows you to reach the widest range of potential buyers possible. SEO, email marketing, and online advertising help attract customers, and multiple sales methods like online auctions and private treaty sales give sellers different ways to make deals based on the asset they’re selling.
- Surplus asset identification. An expert partner should be able to identify all surplus throughout your organization and help you determine the best plan for recovery, whether it’s a sale or a redeployment to another part of the business.
To learn more about how Liquidity Services can effectively manage your surplus please contact us.
1 From Ecowatch, “Sustainable Energy Revolution Grows, Says Bloomberg Report” http://ecowatch.com/2015/02/04/renewable-energy-revolution-bloomberg/
2 From The World Bank, http://www.worldbank.org/en/topic/transport/overview
3 From PricewaterhouseCoopers, ” 2015 Commercial Transportation Trends”, http://www.strategyand.pwc.com/perspectives/2015-commercial-transportation-trends
4 From KCPB, “Six Transportation Trends That Will Change The Way We Move”, http://www.kpcb.com/blog/six-transportation-trends-that-will-change-how-we-move