Vehicle theft and equipment stolen from vans costs businesses with fleets an average of £16,253 each year, according to research by Verizon Connect, which also found the average business has at least one vehicle stolen every year.

For businesses that have between 100 and 250 vehicles, the average yearly losses increase to nearly £50,000, with three vehicles stolen every year.

The findings are the result of interviews with 201 fleet managers and decision makers in companies with between three and 250 vehicles in their fleet.

The research found that only 44% of the businesses who reported a vehicle stolen were able to recover it or the equipment inside in usable condition. It also found 58% of fleets don’t use additional immobilisation devices on vans.

Derek Bryan, vice-president EMEA for Verizon Connect said: “Technology cannot only track the location and status of a vehicle, but can also remotely disable a vehicle’s ignition once the vehicle’s engine has been shut off, effectively stopping vehicle misuse in near real time.”

“This not only helps prevent the unauthorised use of vehicles, it helps businesses run more effectively by better monitoring fuel usage, safety metrics and managing customer expectations.”