Maintenance Costs Fell in Q1, Report From Decisiv, TMC Finds

The trucking industry experienced a decrease in combined parts and labor costs during the first quarter, according to a report by American Trucking Associations’ Technology & Maintenance Council and Decisiv. The report revealed a 2.3% year-over-year decline in expenses, with parts costs reducing more significantly than labor costs. These cost reductions are seen as positive news for fleets that have faced rising expenses in recent years. Decisiv/TMC North American Service Event Benchmark report also noted a 1.7% decrease in combined costs from the prior quarter, driven by reductions in both parts and labor expenses. The report attributed the drop in parts costs to an influx of new trucks and improvements in the supply chain, while labor costs were affected by a shortage of new technicians in the workforce, leading to increased spending to attract qualified workers. The ongoing efforts by commercial asset service operations to streamline maintenance and repair activities appear to be instrumental in managing costs. However, the challenge of labor shortages remains a key factor influencing overall expenses in the industry. This report serves as a valuable tool for industry members to assess their performance and make informed decisions based on industry trends.