💰 Can Your Fleet Afford the 1B Electric Switch?
Insiders, let's chat about the road ahead, where sustainability isn't just riding shotgun; it's driving the whole fleet industry.
From the push for greener operations to the EPA's bold new emission goals, it seems like change is the only constant. But here's the kicker: achieving this green dream without throwing operations into the red is the real challenge. How, you ask? Well, it's all about those small yet impactful adjustments – think route optimization and smarter vehicle use. Today's feature story has more.
Then there's the elephant in the room – the hefty price tag on switching to electric vehicles. A cool trillion (no, not a typo) dollars, according to the Clean Freight Coalition. And with the EPA setting the stage for a drastic cut in emissions, it looks like we're gearing up for an electrifying decade ahead.
Inside today's newsletter
🚀 Fleet managers, feeling the raise! 81% got a pay bump in 2023
💸 Electric truck switch? It will cost $1 trillion says a new report
🌍 EPA's aiming for greener vehicles with strict new standards
🛑 Speed limiters? Not everyone's on board
🔌 Best spots for EV charging? The report spills
All this and more in the Friday edition of The Inside Lane.
Buckle up and let's get to it!
Bianca
How can fleets balance sustainability and operations?
Sustainability is at the top of public and political agenda, and the transition to cleaner transportation affects fleets of all sizes. Achieving those goals requires a careful balancing act with other operational requirements - so how can operators manage this in 2024?
Awareness is everything. Measuring your environmental impact is a good step towards understanding where you need to improve. Good data is the foundations of a tailored strategy - and selling it to management - plus it can help highlight achievements along the way.
Small changes, big impact. There’s no need to uproot everything in the pursuit of a more sustainable operation. Optimizing your routes, loads, and maintenance profiles can all make a big difference - as can targeted training to ensure drivers are getting the most out of their vehicles. It all adds up.
Read more in CCJ Digital
🙂 GOOD DAY:
In 2023, 81% of fleet managers saw their salaries increase, with most earning at least 7% more than the year before, as reported by Automotive Fleet. Despite a third of these managers working independently, often leading new technology initiatives, over half of the survey participants reported annual earnings above $100,000, and 10% exceeded $150,000.
🙁 BAD DAY:
Switching the US trucking sector to electric vehicles will cost $1 trillion, a new report commissioned by the Clean Freight Coalition has warned - with fleets and charger operators expected to make the bulk of the investment. The group wants a technology-agnostic approach to decarbonizing freight, instead of a single-minded pursuit of electric vehicles.
EPA sets ambitious vehicle emission goals
The Environmental Protection Agency has published new fuel economy standards for light and medium duty vehicles, targeting a 50% and 44% reduction in fleet-average greenhouse gas emissions between 2026 and 2032.
Although the rules do not extend to large trucks, they do include Class 2b and Class 3 vehicles with a gross weight between 8,501lbs and 14,000lbs. The EPA claims manufacturers could meet the new requirements by selling 56% battery-electric and 13% plug-in hybrid vehicles by 2032.
Yellow Corp's fall drives down truck, trailer prices
The ripples of Yellow Corp’s collapse are continuing to impact trucking, with auction prices for trucks and trailers slumping in March following the large-scale liquidation of the bankrupt carrier’s assets at the start of the month.
According to J.D. Power Valuation Services, the weaker market follows a challenging February for Class 8 auction prices - down 16% for day cabs and 21% for sleeper tractors compared to the same month in 2023. If you’re considering buying new vehicles, now looks like a good time to invest.
Uber Freight expands trailer-sharing nationwide
Uber Freight is extending its drop-and-hook trailer-sharing solution nationally, after reporting a 43% volume increase during 2023.
Powerloop launched in Texas in 2018, aiming to provide more stable income for truck fleets and now works with 10,000 carriers handling 220,000 loads. Recent enhancements include telematics-equipped trailers for real-time visibility, AI-powered bundling for better efficiency, and improvements to its dedicated carrier solution for smaller fleets.
- TO DO: Stellantis launches in-vehicle task manager for fleets
- LIMITED APPEAL: Lawmakers rally against speed limiter mandate
- M&A: Trimac buys NC-based bulk hauler Feldspar
- EV CHARGING: Report names best and worst cities and states
Quote of the Day:
“This mad dash to zero exposes the supply chain to a $1 trillion unfunded mandate. This is not included in the latest Infrastructure Investment and Jobs Act.”
Chris Spear, President and CEO, American Trucking Associations
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Be safe out there -
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