The Importance of Timely Asset Maintenance: How it Increases ROI and Saves Money

Maintaining a asset of vehicles is an essential part of running a successful trucking business. However, asset maintenance can often be seen as a cost burden, and many companies tend to neglect it. In reality, timely maintenance not only increases ROI, but it also saves money in the long run. In this blog, we will explore the importance of timely asset maintenance and how it can benefit your business.

Importance of Timely Maintenance The first step to understanding the importance of timely maintenance is recognizing the consequences of neglecting it. According to an article in AssetOwner magazine, unplanned maintenance can cost up to four times more than planned maintenance (AssetOwner, 2022). This includes not only the cost of repairs but also the cost of lost productivity and potential fines for non-compliance with regulations. Proper maintenance can also prevent breakdowns and minimize downtime. An article in Heavy Duty Trucking magazine states that every hour of unplanned downtime can cost a company up to $22,000 (Heavy Duty Trucking, 2022). This includes the cost of lost revenue, repairs, and potential fines. Another aspect to consider is the impact of maintenance on fuel efficiency. Dirty air filters, underinflated tires, and worn brakes can all reduce fuel efficiency and increase fuel consumption. In fact, according to an article in Transport Topics magazine, a poorly maintained vehicle can use up to 25% more fuel than a well-maintained vehicle (Transport Topics, 2022). This can add up to thousands of dollars in fuel costs over time.

How Fixyee Can Help Fixyee is a mobile app designed to help trucking companies manage their asset maintenance. The app allows drivers to report defects and inspections, and it tracks maintenance schedules and costs. This can help companies stay on top of maintenance and prevent breakdowns and costly repairs. Fixyee also offers reporting features, which can help companies identify trends and analyze maintenance costs. This can help companies make informed decisions about when to repair or replace vehicles, ultimately resulting in cost savings.

ROI of Proper Maintenance

Now that we understand the consequences of neglecting maintenance, let’s explore how proper maintenance can increase ROI. Properly maintained vehicles are less likely to break down, resulting in fewer repairs and less downtime. This means that vehicles are more productive and generate more revenue.

Proper maintenance can also extend the life of a vehicle. According to a study by the Technology and Maintenance Council (TMC), a well-maintained vehicle can last up to 10 years, compared to an average of 6.8 years for a poorly maintained vehicle (TMC, 2022). This means that companies can get more value out of their vehicles and delay the need for replacement, resulting in cost savings.

Additionally, proper maintenance can improve fuel efficiency, as mentioned earlier. This means that companies can save money on fuel costs over time, resulting in increased profitability.

Conclusion In conclusion, timely asset maintenance is essential for the success of a trucking business. Neglecting maintenance can result in costly repairs, lost productivity, and fines for non-compliance with regulations. Proper maintenance, on the other hand, can increase ROI, extend the life of vehicles, and save money on fuel costs. Fixyee is a powerful tool that can help trucking companies stay on top of maintenance and make informed decisions about their asset . By prioritizing timely maintenance, companies can increase profitability and stay ahead of the competition.

References: AssetOwner. (2022). The True Cost of Unplanned Maintenance. Retrieved from

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