By Mike Quimby, Senior Vice President and General Manager, Element Fleet Management
It’s no secret that trucks are high-cost assets and it’s crucial to maximize their value to your company.
Operating a cost-effective and efficient fleet requires insight into the total cost of ownership. For example, a good maintenance-tracking program is required to identify maintenance and downtime. When it comes to trucks and total cost of ownership (TCO), the following are key factors to consider:
Get the most out of your trucks
Every truck in your fleet should be maximized. Review acquisition-optimum truck specifications for operational and secondary market risk requirements. It’s also important to identify the vital key performance indicators for measurement, including cost per mile (CPM), miles per gallon (MPG), uptime and downtime. Be sure to identify and match the expense with utilization of the asset.