Recently, Lone Star wrote an article for the COTS Journal. In this article, “Reducing Vehicle Costs Through The Use of Technology,” we discuss reducing vehicle costs and why rapidly evolving interconnect standards boost next-generation embedded systems.
Here is a summary of the article:
Reducing Vehicles Costs
Keeping vehicles operating has always been a challenge, as any fleet operator of size can tell you. Tire and brake challenges, electrical problems, engine complications, and many other issues serve to degrade the availability of critical revenue-producing or mission-achieving assets.
In commercial work, according to Ryder Systems, heavy trucks experience at least one emergency breakdown annually. The best case is these events’ high mitigation costs. The worst includes serious safety issues. A survey of nine heavy truck fleets, also conducted by Ryder Systems, found typical days out of service (DOS) for a single tractor was 3.19 days per month. This reduction in operating availability is extraordinarily costly.
How costly? Significantly, according to Element Fleet Management, a publicly traded fleet management solutions company based out of Toronto, Canada. Downtime costs a fleet an average of $448 – $760 per day, per vehicle. Couple the cost per day with Ryder’s DOS, and downtime costs a heavy truck fleet operator $1,429 – $2,424 per month, per vehicle. Multiply it times 1,000 to represent a large fleet, and those numbers get very high.
The original article was posted in the COTS Journal.
While you’re here, check out our MaxUp Fleet VCBM Analytics software and learn how it will keep your vehicles more productive for longer at a lower cost.