Among the many unique challenges for trucking companies is finding way to determine actual costs. Some data, such as fuel costs, may be relatively easy to track but other “soft” costs aren’t as simple to calculate. Things like driver turnover, for example, aren’t easy to add up, but all hard and soft costs are real factors that must be accounted for if you are going to be able to lower your cost of doing business.
Determining your total cost of operation is essential to your ability to be competitive and to your company’s success and profitability. Crunching the numbers and finding ways to lower the cost factors that impact your bottom line requires a clear picture of your Real Cost of Ownership, a comprehensive consideration of all costs over the lifetime of a vehicle.
To determine the Real Cost of Ownership for on-highway trucks, Freightliner identifies five main contributing factors to maximizing profitability: fuel efficiency, connectivity, safety, quality and uptime.
For more information: https://freightliner.com/why-freightliner/real-cost-of-ownership/