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Automotive data provider KeeResources is calling for a minimum level of data to be included in whole-life cost calculations.
The company believes a minimum standard should include depreciation, SMR, fuel, funding, insurance, National Insurance and VED costs.
Mark Jowsey, the firm's director of manufacturer liaison, argues that while WLCs are the key measurement for companies looking at saving money on their fleet costs, there is no agreed minimum standard on which calculations are based, so customers can make like-for-like comparisons.
"The different methods used are so varied, ranging from the most basic reliance on the monthly rental cost to complex forecasting, it's not even a case of comparing apples with pears!"
According to the firm, WLCs, when calculated properly, involve other factors including company car policy, supply terms, the threshold for capital allowances and lease rental restriction plus disposal performance.
"Companies also need to frequently review car policy to avoid getting caught out by escalating WLCs on end-of-life vehicles. A policy based on properly calculated WLCs can make the total reward package more valuable" said Jowsey.
KeeResources has also announced the appointment of Scott Bradley as SMR systems manager. He joins from SMR?specialist Motorconsult, where he spent 11 years, and will oversee UK and international data systems for the firm.
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