Fleet Advantage has released a report showing the impact aging trucks have on maintenance and repair (M&R) costs, and the savings fleets realize when replacing with newer equipment. The report, “Mitigating Rising M&R Costs for Class-8 Truck Fleets,” also provides various M&R data comparisons, actionable tips to lower M&R costs and can be used by fleet executives to benchmark their fleet M&R data and determine how their vehicle lifecycle strategy impacts their overall operation.
According to a section in the report on lifecycle strategy, M&R costs on a 2012 sleeper model-year total $23,100, compared with $2,070 on a new, 2019 model-year truck, providing a savings of $21,030, as you can see in the graph below.
A shorter lifecycle produces long-term savings beyond the first-year. When fleets adopt a three-year lifecycle for their trucks, replacing with new technology in year four, they realize a savings of $42,830 in M&R calculated in years four through seven when compared to a fleet driving the same truck for the full seven years.
Other topics explored in the report include:
- In-depth breakdown of maintenance components and costs
- Additional “variable” maintenance costs, including technicians
- Opportunities to prevent M&R issues
- Understanding where shorter asset lifecycles benefit the bottom line
- Comparing costs of newer trucks versus older trucks
- Why newer trucks reduce maintenance costs
“A shorter lifecycle can benefit operational strategies since maintenance is more preventative on newer trucks rather than unpredictable breakdowns and recoveries,” said Michael Spence, senior vice president of fleet services for Fleet Advantage. “Additionally, newer equipment instills more confidence in the driver, and less stress in the cab reduces the number of accidents and incidents, while also increasing driver retention.”
