Part and labor prices have increased 4-8%, while part and labor availability have decreased. Due to difficulties sourcing replacement vehicles, fleets are keeping units in service longer. This caused repair spend to increase in 2021.
A variety of factors converged to exert upward pressure on preventive maintenance costs, such as longer vehicle service lives due to limited product availability, the ongoing transition to synthetic oils, and higher labor rates to attract scarce technicians.
Supply chain constraints make it difficult to get replacement vehicles leading to extended cycling of those currently in service. This is pushing the envelope of warranty coverage that is exacerbated by a shortage of replacement parts.
The EV market has totally evolved in the last decade and will continue to change as EVs become more affordable, longer lasting, and more efficient.
From state-of-the-art onboard sensors to wireless telematics and more, Microsoft Azure is going to help Enterprise scale its fleet to a 350,000+ vehicle connected force by the end of the year. A fully connected worldwide fleet may be just five years away.
Many tire OEMs have increased prices in CY-2021, ranging from 3-10% depending on type of tire and size. Higher commodity prices and increased ocean freight rates are being passed on to end users as OE profit margins compress.
Many factors converged to exert upward pressure on PM costs, such as longer vehicle service lives due to limited product availability; the ongoing transition to synthetic oils; and higher labor rates to attract scarce technicians.
Peterbilt's Jake Montero, general sales manager for vocational trucks, talks the OEM's freshly updated medium-duty line of vocational trucks and leading market share, and how Peterbilt looks to expand its leadership position.