Business vehicles, on the other hand, often meet the criteria of true assets. Delivery vans, company cars, and service vehicles are integral to operations, directly supporting revenue-generating activities. Their value lies not just in their initial cost but in their ability to enhance efficiency, expand service areas, or improve customer reach. However, to maximise their economic contribution and minimise depreciation, many businesses implement a vehicle management system. Such systems monitor vehicle performance, usage, and maintenance, ensuring their worth is preserved for as long as possible.
Vehicles, whether personal or business-related, hold potential as assets. Their classification hinges on their purpose and the level of management applied to sustain or enhance their value.
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