Parts, labor costs down, but decreased less than in 2024's 1st quarter

Oct 25, 2024 at 02:43 PM CST
A new report from American Trucking Associations’ Technology & Maintenance Council and Decisiv Inc. shows continued declines in heavy-duty parts and labor costs, but cautions those declines slowed in the second quarter. According to the latest Decisiv/TMC North American Service Event Benchmark Report, parts and labor expenses fell 0.7% in the second quarter across 25 major cost categories, following a 1.6% drop the previous quarter. “These declines reflect a continued leveling off of expenses following historically high increases that resulted from supply chain challenges,” said Decisiv President and CEO Dick Hyatt. “Fleets and service providers are seeing a return to predictability and an enhanced ability to more effectively plan service cost allocations. Along with more predictable freight volumes and vehicle mileages, the resumption of more consistent parts availability and overall declines or only modest increases in parts and labor costs point to much-needed cost stability for fleets and service operations.”

Oct 25, 2024 at 02:43 PM CST

A new report from American Trucking Associations’ Technology & Maintenance Council and Decisiv Inc. shows continued declines in heavy-duty parts and labor costs, but cautions those declines slowed in the second quarter.

According to the latest Decisiv/TMC North American Service Event Benchmark Report, parts and labor expenses fell 0.7% in the second quarter across 25 major cost categories, following a 1.6% drop the previous quarter.

“These declines reflect a continued leveling off of expenses following historically high increases that resulted from supply chain challenges,” said Decisiv President and CEO Dick Hyatt. “Fleets and service providers are seeing a return to predictability and an enhanced ability to more effectively plan service cost allocations. Along with more predictable freight volumes and vehicle mileages, the resumption of more consistent parts availability and overall declines or only modest increases in parts and labor costs point to much-needed cost stability for fleets and service operations.”