24254058 | Saltcityphotography | Dreamstime
Semi Trucks Kenworth 24254058 Saltcityphotography Dreamstime 61a7eb6d53f2d

How to keep older assets on the road longer

Dec. 2, 2021
With delays in vehicle production, fleets are keeping assets on the road longer than originally planned. Find out different methods to sustain the life of assets that otherwise would be put out to pasture.

Whether we like it or not, it looks like most fleets will have to run at least some of their assets for longer than they had planned. Supply chain disruptions and material shortages have caused all truck makers to curtail their production volumes and it looks like that will continue.

Some industry experts don't expect to see the COVID-fueled equipment shortage ease until 2023 with 2022 order boards already full and most manufacturers establishing allocation systems for their customers. Even if you ordered trucks, the reality is you may not get the total number you need. To look a little farther out, it is likely that because of 2024 CARB emissions regulations and then 2027 EPA emissions rules changes that we won't see “normal” production and delivery of trucks until 2027.

This situation is exacerbated by the fact that we are in a hot freight market with demand at very high levels which fleets will want to take advantage of.

If you have not already done so, now is a good time to perform a health check on each asset to help determine which ones are best suited to stay in operation longer than normal. Bring each asset into the shop for an inspection. Using your data will help you make the decision on which assets to trade in, which to keep, and which need maintenance or service before they are ready to see additional miles. 

You also can use the data to set the PM schedules on an asset-by-asset basis so that each asset gets maintenance at the proper interval to keep it operational. 

It is also a good time to review your preventive maintenance programs. Most fleets set PM schedules based on their typical asset replacement cycle and OEM recommendations for warranty purposes. They have a good idea of the number of miles their trucks accumulate each year and are reasonably sure that with good PM compliance they will not be seeing trucks in the shop between PM services.

Now fleets will be running at least some of their assets beyond their typical useful life since they won’t be getting new assets to take their place. As we all know, older assets need more maintenance to stay in top operating condition so fleets may have to adjust PM schedules for this new reality. While having a truck come in more often for maintenance adds cost, it is still cheaper than roadside breakdown repairs.

Fleets may not like the fact that they won't be able to get the new trucks and trailers they need, but a little tweaking of maintenance schedules should help keep existing assets on the road delivering for their customers.

Patrick Gaskins, SVP of Corcentric Fleet Solutions, oversees both sales and operations for the company's fleet offerings. Gaskins joined the company in 2010, bringing more than 30 years of experience as a financial services professional in the transportation industry. He leads a team that works with a supply base of more than 160 manufacturers to help the country’s largest fleets manage all aspects of their fleet operations and fleet-related spend.

About the Author

Patrick Gaskins | Senior vice president, Fleet Solutions

Patrick Gaskins is a financial services professional serving the transportation industry for over 30 years. Gaskins earned his BBA in Finance from the University of Miami, FL in 1989, and received his CTP certification from the National Private Truck Council in 2002. He has held positions with GE Capital, TCF Equipment Finance, and various small independent lessors. 

He began his career with Corcentric in 2010 as Vice President of Financial Services, was promoted to Senior Vice President of Sales and Operations, and is now taking the role of Senior Vice President, Fleet Solutions.  In his new role he will lead Corcentric’s Captial Equipment Solutions, Fleet Procurement, Supply Management, and Remarketing teams. Gaskins will bring to the Fleet practice his expertise in developing data driven solutions to complex transportation transactions, driving efficiencies, and reducing expenses for Corcentric’s customers.

The Fleet Solutions practice leverages technology and the purchasing power of over 1,700 member fleets operating approximately 800,000 assets to provide its members with access to cost effective national account purchasing programs, fleet financing, asset management, and remarketing services.

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Leveraging telematics to get the most from insurance

Fleet owners are quickly adopting telematics as part of their risk mitigation strategy. Here’s why.

Reliable EV Charging Solution for Last-Mile Delivery Fleets

Selecting the right EV charging infrastructure and the right partner to best solve your needs are critical. Learn which solution PepsiCo is choosing to power their fleet and help...

Overcoming Common Roadblocks Associated with Fleet Electrification at Scale

Fleets in the United States, are increasingly transitioning from internal combustion engine vehicles to electric vehicles. While this shift presents challenges, there are strategies...

Report: The 2024 State of Heavy-Duty Repair

From capitalizing on the latest revenue trends to implementing strategic financial planning—this report serves as a roadmap for navigating the challenges and opportunities of ...