How Much Does Vehicle Downtime Cost Trucking Companies?

The trucking industry is ultra competitive and vehicle downtime can have a negative impact on profit margins. When a vehicle is down for maintenance, it costs freight companies money in parts and repair costs in addition to the money lost with the loss in production. With those costs in mind, many freight companies want to know — how much does vehicle downtime cost trucking companies? RIGGUARD has the answers to your questions.

What Is the Real-World Cost of Downtime for Trucking Companies?

When trucks are in need of unplanned repairs, it leads to downtime costs that include lost revenue, towing costs, parts costs, and repair costs. The daily cost of downtime for trucking companies averages an estimated $448 to $760 per truck, per day of downtime that can reach totals of $1,000 to $2,000 per day in more extreme cases. The hidden costs of downtime can add up even more when you include driver pay for idle time, towing fees that can cost an estimated $1,500, rental and replacements costs that may be up to $300 per day, and the damage that missed deliveries can cause to customer relationships.

It is important to note that the costs will vary between planned and unplanned downtime and repairs. Unplanned repair costs tend to cost 2x – 3x more than planned downtime for preventative maintenance and can take longer to make repairs, taking an estimated 1 – 3 days. Industry data indicates that trucking companies will see an estimated 8.7 days of unplanned downtime per truck each year.

What Are Key Factors That Lead to Extended Downtime?

There are many incidents on and off the road that can lead to downtime for fleet vehicles — like traffic accidents, animal strikes, or faulty parts — but there are additional factors that can lead to extended downtime. Trucking and freight companies that can take steps to avoid downtime by keeping a regular maintenance schedule and investing in grille guards to protect their trucks mitigate the potential for extended downtime.

• Delays in Parts: When a fleet vehicle is damaged and needs repairs, parts delays are a key factor that can lead to extended downtime and lost profitability, keeping your truck in the repair shop longer than it needs to be.
• Tech Failures: When technology breaks down, it is not always a simple or affordable fix and can lead to extended downtime. Telematics and ELDs can fail and need to be replaced or radar collision avoidance systems can be damaged and cost $2,000 to $4,000 to replace.
• Failed Preventative Maintenance: Preventative maintenance may be one of the most important aspects of running a trucking fleet. When there is a failure to perform scheduled maintenance, it can lead to expensive unplanned downtime and more severe mechanical issues.

READ MORE: How Much Does a Grille Guard Reduce Downtime?

Are you looking for ways to protect your bottom line and increase profits? Are you concerned about the potential costs of downtime? You may have questions like — how much does vehicle downtime cost trucking companies? We hope that this in-depth look at the real-world costs of vehicle downtime will answer your questions.

Contact RIGGUARD today to learn more about our semi truck grille guards!