The CPT is asking operators for data to inform its new Coach Cost Monitor, which will mirror the recently launched Bus Cost Monitor
CPT has launched its new ‘Cost Monitor’ specifically for coach operators. The new coach version will sit alongside the recently launched Bus Cost Monitor and will allow operators to benchmark their costs and performance anonymously against their peers, as well as inform CPT’s policy discussions with governments and industry stakeholders while recognising the differences between bus and coach operations and how they are costed.
CPT Operations Director Keith McNally said: “To help inform the new Cost Monitor for coaches, and ensure the most accurate data possible, we are calling on operators to supply a week’s data from both February and June 2022. Once collated, we can use up to date evidence to better influence government on the economic climate our members are operating in, as well as share with CPT members to help them run their businesses more efficiently. And of course, the Monitor will track movements in industry costs, enabling local authorities and others to increase contractual payments by appropriate amounts.”
As with the CPT’s previous Cost Index, the analysis of the change in costs will be updated on a twice-yearly basis and be split by region. The CPT is also working with industry data specialists 2FM, owners of the Bus Industry Monitor database, to collate the information and ensure individual operator data is protected. The deadline for initial submissions is 13 March.