One in two fleets (49 percent) say the average age of its work trucks is will increase in 2022, according to the 10th annual Fleet Purchasing Outlook published by NTEA, The Association for the Work Truck Industry. In addition, 32 percent of respondents plan to replace more than 10 percent of their trucks.
“Responses to the 2022 survey indicate fleet purchasing activity will focus more on replacement than expansion,” said Steve Carey, president/CEO, in a prepared statement. “This is consistent with expectations, given the fleet purchasing cycle peaked in 2018–2019 and that fleets continue to be challenged by the ability to obtain chassis.”
One in 10 (89 percent) plan to acquire work trucks this year, and of those, say their decisions are influenced by longer chassis lead times.
2022 work truck fleet trends
- 49% say average truck age is increasing this year
- 29% say average truck age does not exceed normal replacement cycle
- 75% indicate an average truck age of 5 to 15 years (similar to levels reported last two years for this age range)
- 57% report current funding for planned acquisitions (a 7-percentage point increase from 2021 levels; response from fleets planning to acquire trucks in 2022)
- 83% purchasing decisions influenced by longer chassis lead times (response from fleets planning to acquire trucks in 2022)
- 89% plan to make at least some acquisitions in 2022 (this is in line with 2021)
- 39% anticipate procuring Class 7 vehicles in 2022 (response from fleets planning to acquire trucks in 2022)
- 39% anticipate acquiring more trucks in 2022 than in 2021
- 32% plan to replace more than 10% of their trucks in 2022 (response from fleets planning to acquire trucks in 2022)
- 39% expect a fleet size expansion in the year ahead
- 62% making specification changes to enhance fuel economy and reduce fuel usage
- 80% do not expect a vehicle platform shift (response from fleets planning to acquire trucks in 2022)
Fleet purchasing findings
Fleet respondents report their most important management focus areas continue to include safety, maintenance costs, idle reduction and uptime (keeping drivers on the road). Other than acquisition costs, funding and lead times are among the biggest challenges faced in purchasing new trucks. Other areas covered in the survey include:
- Average truck age and replacement cycles
- Macro-level buying tendencies
- Predicted change in fleet size
- Main factors driving purchase behavior
- Interest in advanced truck technologies and alternative fuels
- Approach to safety and automation
- Importance of financial purchasing incentives
NTEA gathers feedback from a wide variety of fleet professionals in mid- to high-level management with authority to make truck acquisition and vehicle specification decisions. Participants come from a wide range of fleet sizes, vehicle weight classes, and vocational truck applications across the U.S. and Canada.
Source: NTEA
