Fleet Advantage has made public its second quarter 2016 Truck Lifecycle Data Index (TLDI) comparing all-in operating costs of early model Class 8 trucks to all-in operating costs of current model year replacements.
Fleet Advantage is a leading innovator in truck fleet business analytics, equipment financing and lifecycle cost management firm. Its TLDI shows that fleets realize higher cost savings by replacing older-model units with 2017 models, and reflects a 9 percent increase in operating cost savings over the prior quarter, resulting a slight uptick in diesel fuel costs.
Using data from Fleet Advantage’s ATLAAS (Advanced Truck Lifecycle Administrative Analytics Software), the TLDI helps industry professionals identify when their transportation equipment has reached the “tipping point” of economic obsolescence.
Results from the second quarter indicate that fleet operators can realize an all-in cost savings of about $18,816 per truck in the first 12 months of operation when upgrading from a 2011 model-year truck to a 2017 model year, which increases the savings to over $700 more than the Q1 TLDI figures.
“It’s clear that upgrading to a new truck provides significant benefits for fleet managers looking to strengthen their bottom line, and that fleets utilizing a shorter vehicle lifecycle will secure a competitive advantage,” said Brian McMahon, data analyst at Fleet Advantage. “First-year savings are impressive and rise exponentially when multiplied across dozens of truck units.”
Fleet Advantage offers information for truck fleet operators including financial and valuation insights required to deploy successful asset management. Data analytics from ATLAAS including the Truck Lifecycle Data Index help truck fleet operators save millions in savings by replacing older vehicles and shifting their current lifecycle practices to a data-driven model.