Fleet Advantage, a truck fleet business analytics, equipment financing and lifecycle cost management company, released the results of its latest annual benchmarking survey taking the pulse of fleet executives on a variety of industry issues.
According to the survey results, 40% of respondents listed maintenance and repair (M&R) as their top motivating factor for acquiring new trucks. M&R costs have become front and center in recent years with more fleet personnel working with their finance departments, according to a recent Fleet Advantage study to show them how significant M&R costs are to lowering their overall fleet costs.
However, the survey shows that costs are not the only concern fleets have regarding maintenance: 26.7% also believe a safe, well-maintained truck is most beneficial in driver recruitment and retention—critical since the driver shortage remains a difficult issue for many transportation companies. Only compensation ranked higher as most beneficial in driver retention at 50%.
Below, you’ll find an infographic highlighting the findings of this survey: