Survey Says Maintenance Costs Up

Feb. 9, 2024
A Telectrac Navman telematics survey releases some preliminary findings.

Teletrac Navman is finalizing its “TS24” telematics study that looks at trends in asset management, and preliminary results point to concern about rising maintenance costs.

Company officials gave a glimpse of the study during a press conference at the recent World of Concrete in Las Vegas.

The company’s latest survey of asset managers also reveals a trend toward tracking smaller assets, hinted Mayank Sharma, Teletrac Navman’s head of global product management, as part of the preview.

“Telematics still plays a pivotal role in the construction industry’s data-driven transformation,” Sharma said.

Eighty-three percent of the construction companies surveyed this year use telematics, with the biggest benefits being time and cost savings (67%) and fuel savings (40%).

Equipment/vehicle maintenance is respondents’ top expense at 46%, which is up from 44% in the TS23 survey. “Not only have costs gone up, but also many companies are holding on to equipment a bit longer,” Sharma said.

Read also: 2024 Prices Remain a Concern for Fleets

Thirty-five percent of construction companies surveyed said they use telematics to improve asset visibility.

It should be noted that the survey includes Teletrac Navman customers and non-customers.

Teletrac Navman says its Global Telematics Survey is meant to showcase the prevailing trends that are impacting fleet operations in the construction industry and how the industry is planning to tackle them, according to the company. The survey results are based on feedback from over 500 fleet professionals in the construction industry and covers macro-economic challenges, planned investments, and how telematics users are using the technology.

Data consists of responses from fleet managers that use telematics, and those that were yet to begin their telematics journey, with responses covering the United States, Australia, New Zealand, Mexico, and the U.K.

Full survey results for TS24 are imminent.

Teletrac Navman manages more than 700,000 vehicles and assets around the world.

About the Author

Frank Raczon

Raczon’s writing career spans nearly 25 years, including magazine publishing and public relations work with some of the industry’s major equipment manufacturers. He has won numerous awards in his career, including nods from the Construction Writers Association, the Association of Equipment Manufacturers, and BtoB magazine. He is responsible for the magazine's Buying Files.