The Importance of Total Cost of Ownership

The Importance of Total Cost of Ownership

Sponsored by Minimizer

Fleets are likely familiar with the phrase total cost of ownership (TCO), but how do they minimize TCO when increasing safety, improving performance, and enhancing appearance are paramount to their business?

Managing a fleet of trucks is an extensive job, with permits, licensing, driver education, and maintenance costs.  Routine maintenance can be hard enough to stay on top of, let alone try to plan.  However, with the right accessories, fleets can eliminate some of the most common operation interference and keep their trucks on the road.

The biggest hurdle when managing equipment is keeping costs in check and getting the best value out of it. Fleets make purchasing decisions based on the price of the vehicle, fuel economy, and maintenance fees, and they have to look for ways to reduce total cost of ownership. It all comes down to the right accessories and equipment, which must be durable, improve safety, and add value.

When specifying exterior accessories like fenders and mud flaps, fleets must ensure that these items improve performance, provide functionality, and enhance the trucks’ overall appearance.  Let’s be honest, while impression may not be top-of-mind when minimizing TCO, fleets must remember that the look of their over-the-road assets—right down to the wheels—is a direct reflection of the brand, including the perception of service and quality of the company that owns them.

The Federal Motor Carrier Safety Administration’s compliance, safety, and accountability program scores carriers and drivers on seven behavior analysis safety improvement categories or BASICs.  Basic scores identify poor safety performers, who are then subject to interventions by the FMCSA.  Notably, FMCSA data indicates that 82% of CSA violations are in the vehicle maintenance sector.  Trucks that are well maintained and carry that positive image down the road are less likely to receive CSA citations.

Of course, quality maintenance practices mean that trucks break down less often. That makes managing delivery schedules easier and helps to eliminate added maintenance costs.

Fleets look for the lightest, most durable, and longest-lasting products.  When choosing fenders, consider that they should protect loads and equipment, improve fuel efficiency, and add to a truck’s appearance and lifespan.

When choosing mud flaps, the same criteria hold true—they must provide value and be durable and long-lasting.  Mud flaps also add value if carriers decide to use them to provide more information about the fleet, so it is essential to utilize a company that offers complete graphic services to put fleet logos, telephone numbers, or websites on the flaps.  It’s a good use of space when you consider that most trucks average 10 million views per year driving down the road.

Total cost of ownership is critical to every fleet in the business.  When making decisions regarding equipment, attention to detail is essential because every decision impacts the bottom line.

You May Also Like

Hutchens Industries says Genuine Hutch spring hangers are dimensionally correct for geometry and fit

All Genuine Hutch parts have a 5-year warranty, supporting Hutchens Industries’ goal to make products that work for years, not 30 days.

Hutchens-Industries-logo

To allow for consistent performance and improved longevity, Hutchens Industries says its Genuine Hutch spring hangers are designed to provide maximum surface area contact between the springs and the wear pads, which helps prevent unnecessary wear and premature failure.

Hutchens says it engineered the spring hangers with drain holes in the proper places to combat corrosion and added centerline marks on all 4 sides to facilitate correct spacing and alignment during installation. Like all Genuine Hutch parts, the spring hangers are precision welded and come with a 5-year warranty.

How Advanced Trailer Telematics Makes the Road a Safer Place

Keeping the road safe is paramount to any transportation business. Of course it saves lives, which comes before anything else. Beyond that, though, safer roads reduce unscheduled downtime, unexpected roadside events, and slow downs that can throw scheduling into a whirlwind and disrupt weeks worth of logistical planning. Advanced trailer telematics offer increasingly better insights

Hutchens Industries says Genuine Hutch torque arms are built to last

All Genuine Hutch parts have a 5-year warranty, supporting Hutchens Industries’ goal to make products that work for years, not 30 days.

Hutchens-Industries-logo
ACES® and PIES™ Compliance Tips for the Heavy-Duty Aftermarket

What you Need to Know about ACES® and PIES™ ACES® and PIES™, maintained by the Auto Care® Association, is your roadmap to navigating the complexity of automotive aftermarket parts and product data. These industry standards ensure accurate fitment and product information for smoother operations, improved customer experience, and enhanced supply chain efficiency. By consistently utilizing

Improve KPIs for your shop and fleet today.

Key Performance Indicators (KPIs) are goals or targets that organizations use to measure progress against their strategic objectives. Tracking KPIs is critical in industries with tight margins – such as commercial transportation – as they help provide managers with insights into performance and efficiency. Businesses can optimize operations and increase profitability by tracking and analyzing

Other Posts

Mitchell 1 TruckSeries commercial truck repair software

Put powerful, easy to understand CV diagnostics at your fingertips with TruckSeries by Mitchell 1.

Mitchell-1-Truck-Series-Sponsored-Content-600
From hands-on training to video-based learning: Keeping truck technicians trained

Hendrickson’s service philosophy on how to teach the next generation of technicians.

The Future of Trailer Telematics: Going Beyond Track & Trace

The Benefits of Integrating Trailer Telematics with Fleet Management Systems

Dana Products, Education, and Programs Offer Optimized Uptime

At Dana, we do a lot more than manufacture high-quality replacement products to Original Equipment standards. Through the expertise of the Dana Training Academy team, we work to ensure you have the knowledge and training you need to properly install and service our products for longer life and maximum performance, with the ultimate goal of