NTEA recently published its 11th annual Fleet Purchasing Outlook, with 69% of survey participants reporting the average age of their trucks is exceeding their normal replacement cycle.
According to the survey, 29% say the average age is increasing beyond 10 years.
“The latest survey responses indicate that fleet purchasing activity will focus on deferred replacement and growth,” said Chris Lyon, NTEA director of fleet relations. “These findings are consistent with expectations, as fleets continue to be challenged by the ability to obtain chassis.”
NTEA said it gathers feedback from fleet professionals to make commercial vehicle acquisition and specification decisions. Participants come from a wide range of fleet sizes, vehicle weight classes, and vocational truck applications across the U.S. and Canada.
Primary sectors featured in the analysis include government/municipal, construction, delivery, and utility/telecom application markets.
With current survey results combined with data from previous studies, the report delivers year-over-year comparisons for benchmarking purposes and insight into the fleet perspective to help organizations develop future business strategies.
Report findings showcase:
- Average vehicle age and replacement cycles.
- Projected change in fleet size.
- Acquisition plans and funding.
- Anticipated vehicle platform shifts.
- Technology implementations.
- Conventional and alternative fuels usage.
- Formalized alternative fuel programs.
- Commercial vehicle systems electrification.
- Safety and automation options.
- Commercial vehicle maintenance approaches.
- Lead time considerations.
Fleet respondents report:
- 40% state their fleet size is remaining the same.
- 95% plan to make at least some acquisitions in 2023 (up 6% over 2022), and 58% plan to replace at least 5% of their total fleet in 2023.
- 42% say they would purchase a different brand due to longer lead times and lack of chassis availability.
- 79% are using drive and duty cycle data and 81% are using telematics.
- 91% are finding safety and automation options to meet their needs; tire pressure monitoring, collision avoidance, and lane departure warnings make the list of top items of importance to fleets.
- 62% intend to purchase advanced fuel vehicles in 2023.
- 77% perform in-house maintenance or a combination of in-house maintenance with support from an outside service provider.