Leadership Panel on The State of the Fleet Industry Takes Place at NAFA’s Virtual I&E
Panel to include the presidents of NAFA, AFLA, and NTEA
PRINCETON, N.J. – (September 1, 2020) – NAFA Fleet Management Association (NAFA), the vehicle fleet industry’s largest membership association, announces a can't-miss I&E general session spotlighting fleet's purpose and challenges both for today and tomorrow. Registration for the 2020 Virtual Institute & Expo (I&E), September 14-17, is open at the conference website: www.nafainstitute.org
The insightful State of the Fleet Industry presentation features Patti Earley, CAFM, President, NAFA Fleet Management Association; Katie Keeton, President, Automotive Fleet & Leasing Association (AFLA); and Steve Carey, President, NTEA – The Association for the Work Truck Industry.
Fleet Drivers Facing Increased Price for Vehicle Personal Use
NAFA seeking an IRS waiver on ALV rule
By Mark Boada, Executive Editor
NAFA has petitioned the IRS for a waiver of the rule that will otherwise raise the cost, in some cases by as much as thousands of dollars, that drivers have to pay for the personal use of fleet vehicles.
Under IRS rules, the personal use of fleet vehicles is considered a taxable fringe benefit treated as income. The requested waiver concerns the most popular way by which fleets determine that taxable benefit, known in the tax code as “Annual Lease Value”. Personal use includes commuting to work as well as using vehicles for any non-business-related purpose.
NAFA is asking for the waiver because, starting in March of this year, so many fleet drivers are driving many fewer miles than normal because of the COVID-19 pandemic. According to the annual lease value method, drivers receive taxable income that depends on the percentage of their total mileage that is for personal use.
Lori Williams Named Chief Revenue Officer at eDriving
eDrivingSM, a global provider of driver risk management solutions, has appointed Lori Williams as Chief Revenue Officer.
Lori will be responsible for delivering eDriving’s revenue goals and expanding go-to-market channels. She will work closely alongside Business Development, Client Success, Product Development, and Marketing teams across eDriving’s global offices to penetrate new markets, expand partnerships, grow wallet share and achieve eDriving’s aggressive revenue goals.
“Lori has proven herself as a values-based leader who is passionate about putting customers first and galvanizing teams to action,” said Ed Dubens, CEO/ Founder of eDriving. “I’m delighted to welcome her to our leadership team where she will strengthen cross-department collaboration for the benefit of clients globally.”
WalletHub: 2020’s Best & Worst Cities to Drive In
Most Americans rely on cars to get around, as “87 percent of daily trips take place in personal vehicles,” according to the Bureau of Transportation Statistics.
In addition, during the COVID-19 pandemic, fear of public transportation has led to more reliance on personal vehicles than usual. Due to the pandemic, 20 percent of people who don’t own a car are considering buying one.
While driving offers a more isolated commute, it is often a major hassle and expense. Drivers annually spend an average of more than 310 hours on the road. That’s nearly 13 days. Add the costs of wasted time and fuel due to traffic congestions, and our collective tab comes to about $1,400 per driver each year.
Kamala Harris and the Auto Industry: Where a VP Might Steer Things
Coming from California, it should be no surprise that Senator Harris has a long record of action on climate change including investigating Exxon Mobil in 2016, voting against repeals of methane emissions, and sponsoring the resolution of disapproval for the 2019 rollbacks on power plant carbon pollution limits.
It is unlikely that Harris would “drive” fuel-efficiency regulations to more painful heights, though, since automotive manufacturers are already facing international pressures regarding fuel economy.
Specific to the automotive industry, Harris opposed the Trump Administration’s attempts to reverse the Obama-era fuel efficiency standards. A more likely influence might be the introduction of “… incentives for cars to be replaced with zero-emission vehicles manufactured in America, and extra, targeted assistance for low and middle-income families.” Harris said emphatically during a 2019 Town Hall that, “By my plan, by 2045 we will have basically zero emission vehicles only,” but her climate plan calls for 100% of vehicles as soon as 2035.
Read the article at Forbes.
