FORT LAUDERDALE, Fla. (July 27, 2021) – According to recent data from the National Highway Traffic Safety Administration (NHTSA), heavy-duty truck-related crash fatalities in 2020 declined by 2% after years of increases. Fleet Advantage continuously promotes the vast improvements safety technologies have brought to keep heavy-duty truck drivers and motorists safer in recognition of July as National Roadside Traffic Safety Awareness Month.
According to a June 2020 report by the American Transportation Research Institute (ATRI), the average size of verdicts increased 967% from $2,305,736 in 2010 to $22,288,000 in 2018.
In 2020, Fleet Advantage introduced its Safety First Program that focuses on safety proactively by shortening equipment life cycles to onboard new safety technology more rapidly. Safety technologies include collision avoidance, lane departure and blind spot assist to keep drivers and other motorists safer, while also reducing exposure to expensive litigation.
These safety technologies continue to be a distinct focus on the vast majority of new trucks for Fleet Advantage’s clients in 2021. In fact, this year approximately 98% of all Fleet Advantage leased trucks include advanced Lane Departure technologies; 95% include Collision Avoidance; and 81% include Blindspot Assist. Furthermore, 82% of Fleet Advantage leased trucks also include Front disc brakes and Rear disc brakes.
Collision Avoidance in particular has been identified by both the National Transportation Safety Board (NTSB) as well as the Insurance Institute for Highway Safety (IIHS)/Highway Loss Data Institute (HLDI). In fact, a study from the IIHS / HLDI concludes that forward collision warning helped in a 22% reduction in the rate of police reportable crashes per vehicle miles traveled, along with a 44% reduction in reported rear-end crash rates of large trucks.
The NTSB has been illustrating the benefits of advanced safety technologies such as collision mitigation for more than a quarter century. The board believes an estimated 50% of all rear-end collisions for both cars and trucks could be prevented if vehicles have forward-collision warning and automatic emergency braking systems. The NTSB continues to place collision mitigation and other safety technologies on its biennial “Most Wanted List of Transportation Safety Improvements”.
While fleets today realize the significant impact these safety technologies are having on saving lives, they are also experiencing a noticeable return on their investment in safety in about 16 months. This has shortened from our analysis from September 2020 of 24 months.
“For the last few years we’ve taken great pride in helping our fleets become the youngest in the industry with the most reliable trucks,” said Katerina Jones, Vice President, Marketing and Business Development at Fleet Advantage. “We’re proud to know safety is just as important, and we are making great strides to ensure that our fleets are putting their drivers in the safest trucks on the road today.”
For more information about the Fleet Advantage Safety First Program click here.
About Fleet Advantage
Fleet Advantage has over $1.5 Billion of assets under its Life Cycle Cost Management (LCCM) program and serves America’s top corporate fleets. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet financing solutions with matching proprietary data driven IT processes and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Fleet Advantage is ranked as one of the fastest-growing privately held companies in the state of Florida and the fastest growing independent truck lessor in the U.S. Fleet Advantage is also named a Top Private Independent firm by the Monitor Daily. In 2015 and 2013, the company was named to Inc. magazines’ 500|5000 list of fastest growing companies in the nation. In 2011, CEO John Flynn received the Ernst & Young Entrepreneur of the Year® 2011 Florida – Emerging Category award.