Survey: Fleets Using Trucks for Fewer Years

An estimated 59 percent of fleets say they are running their trucks for five years or less, according to a recent survey. 

That percentage is the exact same as in 2022’s survey by Fleet Advantage, an independent lessor of heavy-duty Class 8 trucks, but a major increase from 2021’s 45 percent. The biggest reasons provided for procuring new trucks were better fuel economy and lower maintenance costs. 

Almost 26 percent of participants said higher costs have decreased the attractiveness of long-term contracts on these trucks, which serves to increase vehicle turnover in fleets. 

Survey respondents also shared their thoughts on alternative-fuel trucks. Costs and return on investment remain a worry for nearly 90 percent of respondents. 

“In fact, 44 percent of respondents said they do not currently have a proper way of fully calculating all costs involved with alternative fuel trucks, and another 44 percent said they are not yet satisfied there will be a decent ROI on these vehicles,” according to a release. “22 percent cited unknown resale values, life expectancy, range and fueling infrastructure, weight and distance, and unproven technology as other barriers to adoption.” 

The survey also touched on factors that are beneficial for driver retention, with the top three influences being, in order, compensation, company culture and new equipment.