Secret To Making More Money? Buy A New Truck

A hot topic among drivers with nearly every trucking company is equipment maintenance.  More specifically, the need for new, updated trucks.  Well, PAM Transport is listening to its drivers and things appear to be paying off...literally!

PAM Transport recently announced its first PAM Transport Logoquarter results and reported a net income of $674,193 for the quarter ending on March 31, 2012.  Daniel Cushman, President of the Company, provided several reasons for the positive earnings with many relating back to "equipment utilization." 

Among the positive changes that stood out were:

  • A reduction of the average age of its truck fleet from 3.28 to 2.43 years 
  • 4.9% increase in equipment utilization
  • PAM Transport's focus on planning efficiencies gained through the integration of information provided by electronic on board recorders installed during 2011

More New Equipment Benefits
Cushman went on to say, "Our continued investment in new equipment to replace older higher mileage equipment has reduced our operating costs in the areas of maintenance, driver recruiting and retention, repair related layovers, and has helped greatly in diminishing the effects of increases in fuel prices which averaged $.35 cents higher during the first quarter 2012 than during the first quarter of 2011. In addition to benefits from the purchase of new equipment we have been able to achieve significant fuel cost savings through price and efficiency strategies, including sharing savings with our drivers in the form of fuel incentives, managing compliance with fuel and routing software, managing driving habits, equipment configuration and settings, and price negotiations among other things."

There is definitely a lesson to be learned here.  PAM Transport invested in new equipment and planning software to keep drivers moving.  As a result, the drivers overall are happier and the company is running more efficiently without requiring as much vehicle maintenance.  It's great to see companies like PAM Transport listening the the needs of its drivers and reporting positive outcomes as a result!

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