Report: Costs Rising for Truck Parts, Labor

Fleets paid more for parts and labor expenses during the third quarter of 2023, according to one report. 

These expenditures each rose by 1.9 percent, the American Trucking Associations’ Technology & Maintenance Council and Decisiv reported Jan. 24 in a benchmark write-up. 

During the second quarter, costs declined by 1.3 percent. Year-over-year, parts expenses are up 0.9 percent and labor payments jumped 4.9 percent. 

The report noted a “likely explanation” for the increased parts costs is ongoing inflation “considering that truck tonnage and consequently mileage continue to decline.” Rising labor expenses has been largely due to the “ongoing technician shortage.” 

“This return to increasing parts and labor costs highlights the fact that fleets must remain vigilant when it comes to managing their maintenance expense data,” stated Robert Braswell, council executive director.