As part of its celebration of National Asset Management Awareness Month in March, Fleet Advantage is offering fleet modernization studies for organizations with transportation fleets. These fleet studies were designed to help determine an optimum fleet life cycle and utilization, an operational cost savings strategy, and a procurement strategy based on a company’s total cost of ownership.

These fleet analysis and modernization studies also were designed to help organizations determine their “TIPPINGPOINT,” the optimum time to replace an aging truck with newer, clean trucks that include advanced safety technologies.

Fleet modernization studies have proven to be effective in helping to save organizations millions on their bottom lines. This insight has been particularly helpful during the COVID-19 pandemic, as many fleets are seeking programs to modernize their equipment and provide agility with shorter life cycles. As a result, Fleet Advantage has helped its clients reduce equipment life cycles from 75 months to roughly 55 months.

More fleets are growing increasingly interested in upgrading and modernizing their fleets and policies surrounding modernization are one of the top industry issues, according to the American Transportation Research Institute.

This focus on modernization through upgrading into newer truck technology is expected to increase in prioritization throughout 2021.

According to the preliminary Class 8 truck orders report for February, fleet customers ordered 259,000 Class 8 trucks in the past six months, which is greater than the combined total of the previous 18 months. According to ACT Research, preliminary net orders in February tallied 43,800 units, up 4% from January and up 212% from the same month a year ago.

“Truck fleet asset management has increasingly been in focus for organizations as they begin to better understand the correlation and impact their truck operation strategy has on their financial bottom line,” Al Barner, senior vice president of business development for Fleet Advantage, said.