Should You Upgrade Your Fleet Now?
Who would say no to a brand new vehicle? Drivers love and enjoy cruising on a fresh new set of wheels, but if you are in the trucking industry or commercial transportation industry, it’s going to be a tougher decision to make.
Let us list down some points to consider before upgrading your trucks in your trucking business.
Age of Fleet
Old trucks require more maintenance and repairs. Consequently, maintenance and repair works mean more costs for the company (and nobody wants that).
On the other hand, a new truck may mean a bigger expense all at once but you can actually save more as you no longer have to deal with the recurring maintenance costs. As an added benefit, newer models even come with more efficient engines that reduce or even eradicate the need for frequent maintenance works. Hence, a younger fleet can give you more advantages in terms of the total cost of ownership compared to having an older fleet.
For instance, a savings of $42,830 in maintenance and repair costs alone can be made when you opt for a three-year lifecycle for your trucks, replacing it every fourth year, instead of letting it run for a full seven years, according to a study. Meanwhile, savings of up to $17,150 can be made when you switch from a five-year lifecycle to a three-year lifecycle for your fleet, according to the same study.
Efficiency and Performance
Newer trucks are equipped with modern and enhanced technology, most of which are geared to ensure safety and sustainability.
In terms of safety, newer models are now equipped with advanced truck components like brakes and tires and innovations such as stability control and lane-departure systems. Additionally, newer models of heavy-duty trucks now have collision warning systems, forward video monitoring, blind-spot monitoring, and lane correction steering systems as standard OEM offerings.
Newer truck models are also now becoming greener with fuel-efficient engines, that reduce emissions, lessening carbon dioxide emission by 126 metric tons and nitrogen oxides by 12% per year. Also, newer trucks are built with lighter components that allow longer window periods between maintenance works, thereby reducing hazard material disposal.
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With more efficient trucks, deliveries are on time, and productivity is increased. This translates to better services provided to customers, thereby improving company trust and reliability.
On the other hand, newer trucks also help attract new drivers. Newer trucks offer better comfort and lessen fatigue for drivers, allowing them to have more time for themselves. This also improves driver retention with the company, which lessens or even eradicates the need to spend again to hire a new driver.
With those three things in mind, are you ready to upgrade your trucks now? If yes, don’t forget to avail of insurance for added peace of mind! Talk to us today for all your trucking needs.