FORT LAUDERDALE, FL (July 21, 2016) – Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing and lifecycle cost management made public today its second quarter, 2016 Truck Lifecycle Data Index (TLDI) comparing all-in operating costs of early model Class 8 trucks to all-in operating costs of current model year replacements. The TLDI shows that fleets realize higher cost savings by replacing older-model units with 2017 models, and reflects a 9% increase in operating cost savings over the prior quarter resulting a slight uptick in diesel fuel costs.
Using data from Fleet Advantage’s ATLAAS (Advanced Truck Lifecycle Administrative Analytics Software), the TLDI helps industry professionals identify when their transportation equipment has reached the “tippingpoint” of economic obsolescence. Results from period ending Q2 indicate that fleet operators can realize an all-in cost savings of approximately $18,816 per truck in the first 12 months of operation when upgrading from a 2011 model-year truck to a 2017 model year, which increases the savings to over $700 more than the Q1 TLDI figures.
“It’s clear that upgrading to a new truck provides significant benefits for fleet managers looking to strengthen their bottom line, and that fleets utilizing a shorter vehicle lifecycle will secure a competitive advantage.” said Brian McMahon, Data Analyst at Fleet Advantage. “First-year savings are impressive and rise exponentially when multiplied across dozens of truck units.”
Fleet Advantage offers valuable information for truck fleet operators including financial and valuation insights required to deploy successful asset management. Data analytics from ATLAAS including the Truck Lifecycle Data Index help truck fleet operators save millions in savings by replacing older vehicles and shifting their current lifecycle practices to a data-driven model.
About Fleet Advantage
Fleet Advantage serves America’s top truck fleets and guarantees the absolute lowest cost of ownership by providing truck leasing and matching proprietary data driven IT processes with fleet analytics using the latest eco-efficient clean diesel technology to achieve optimum vehicle productivity, while reducing fuel and maintenance costs. 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. In 2015 and 2013, Fleet Advantage was also 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.