Benchmarking Report from TMC and Decisiv Expands, Now Tracks 25 Separate Vehicle Systems
ATA’s Technology & Maintenance Council (TMC) and Decisiv Inc., said that parts and labor expenses stabilized during the first quarter of 2023, according to data released in the latest Decisiv/TMC North American Service Event Benchmark Report.
While high prices for parts and higher wages for labor during the past year are unlikely to return to earlier levels, the latest Decisiv/TMC Benchmark Report — organized by Vehicle Maintenance Reporting Standard (VMRS) system level codes — shows a marked slowing of cost increases. Compared to the fourth quarter of last year those costs rose only 0.7 percent, a sizable drop when viewed against the more than 8 percent increase from one year earlier.
This recent report has been expanded to incorporate service activity reporting on the parts and labor costs for the top 25 VMRS system codes which account for more than 97 percent of the total service activity during the first quarter of 2023. “The expansion from 10 VMRS systems to 25 will provide greater granularity in this important benchmarking report,” said TMC Executive Director Robert Braswell. “The Council’s fleet membership will benefit from this deeper dive into parts and labor cost analysis going forward.”
Between 2022 Q4 and 2023 Q1 parts costs dropped by 0.4 percent and labor costs increased 2.3 percent, reflecting that new vehicles backordered for historically long periods are finally reaching end users. There is also a general decrease in mileage across all trucking segments, driven down by a reduction in freight volumes. According to data released monthly by ATA, on-highway truck tonnage continues to fall annually, and on a month-to-month basis.
“Fleets are weathering the impact of aging trucks and higher parts prices, and are addressing the need for technicians,” said Dick Hyatt, President and CEO of Decisiv. “The data that Decisiv collects and analyzes for the TMC Benchmark Report on Vehicle Maintenance Reporting Standard (VMRS) system level codes clearly indicates that service costs are more stable.
“This expansion in VMRS cost reporting enabled by Decisiv SRM, for more than seven million assets and over 300,000 monthly maintenance and repair events, enables fleets to zero in on areas where they can continue to drive down service expenses with effective management practices,” Hyatt added.
The Decisiv/TMC North American Service Event Benchmark reports are generated using data from the Decisiv SRM platform on service and repair events for more than 7 million commercial assets operating across the U.S. and Canada. The industry’s largest asset service management system is being used to manage a weekly average of 70,000 service events at nearly 5,000 locations.
ATA’s Technology & Maintenance Council issues the reports to its fleet members. The reports are organized based on the Council’s Vehicle Maintenance Reporting Standards sorted by VMRS-coded vehicle systems and geographic location.
TMC fleet members will receive the report electronically via email. For more information on joining TMC, call (703) 838-1763 or visit http://tmc.trucking.org.
By providing leadership support and opportunities to collaborate, TMC helps members develop the industry’s best practices that address the critical truck technology and maintenance issues that have the greatest impact on truck fleets. For more than 60 years, TMC’s member-driven Recommended Maintenance and Engineering Practices have been setting the standards that help trucking companies specify and maintain their fleets more effectively. Follow TMC on LinkedIn and Facebook.
TMC is America’s premier technical society for truck equipment technology and maintenance professionals. TMC features a diverse membership of equipment managers, service-dealers, owner-operators, industry suppliers and manufacturers, educators, academia and others that support the trucking industry. TMC member fleets represent the broad range of industry vocations, including truckload, less-than-truckload, municipal, private, on/off-highway, construction and other operations. Find out more about TMC online at http://tmc.trucking.org.
American Trucking Associations is the largest national trade association for the trucking industry. Through a federation of 50 affiliated state trucking associations and industry-related conferences and councils, ATA is the voice of the industry America depends on most to move our nation’s freight. Follow ATA on Twitter or on Facebook. Trucking Moves America Forward
About Decisiv, Inc.
Virginia-based Decisiv is the provider of the largest asset service management ecosystem for the commercial vehicle industry in North America, delivering intelligent asset service management for improved utilization, performance, security, and compliance. The Decisiv Service Relationship Management (SRM) platform is the foundation for over 5,000 service locations and over 74,000 fleets across North America that manage more than 4 million service and repair events for commercial vehicles annually. The Decisiv SRM Ecosystem acts as the system of orchestration that uniquely connects dealers, service providers, OEMs, component manufacturers, and fleets by delivering critical in-context, actionable data at the point of service. This unrivaled level of data connectivity and collaboration drives more intelligent, effective service and enables asset owners and managers to proactively plan and manage maintenance across the entire lifecycle of every asset. For more information, visit www.decisiv.com.
Phone: (804) 762-4153