Work truck replacement on tap for 2022: NTEA

One in two fleets (49%) say the average age of their work trucks will increase in 2022, according to the 10th annual Fleet Purchasing Outlook report released by NTEA, the Association for the Work Truck Industry. Additionally, 32% of respondents plan to replace more than 10% of their trucks.

“Responses to the 2022 survey indicate that fleet purchasing activity will focus more on replacement than expansion,” Steve Carey, president and CEO, said in a prepared statement. “This is in line with expectations given that the fleet purchasing cycle peaked in 2018-19 and fleets continue to be challenged by the ability to obtain chassis.”

One in 10 (89%) plan to buy work trucks this year, and of those say their decisions are influenced by longer lead times for chassis.

2022 Work Truck Fleet Trends

• 49% say the average age of trucks is increasing this year
• 29% say the average truck age is within the normal replacement cycle
• 75% indicate an average truck age of 5-15 years (similar to levels reported in the last two years for this age group)
• 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% of purchase 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% plan to acquire Class 7 vehicles in 2022 (response from fleets planning to acquire trucks in 2022)
• 39% plan to acquire 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 fleet size to expand in the coming year
• 62% change specifications to improve fuel economy and reduce fuel consumption
• 80% do not expect a change in vehicle platform (response from fleets planning to acquire trucks in 2022)

Fleet Purchase Results

Fleet respondents report that their most important management areas continue to include safety, maintenance costs, idling reduction and availability (keeping drivers on the road). Along with acquisition costs, financing and lead times are some of the biggest challenges faced when buying new trucks. Other areas covered by the survey include:

• Average truck age and replacement cycles
• Macro-Level Buying Trends
• Planned change in fleet size
• Key Factors Determining Buying Behavior
• Interest in advanced truck technologies and alternative fuels
• Approach to security and automation
• Importance of financial incentives to purchase

NTEA collects input 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 professional truck applications across the United States and Canada.

Source: NTEA