Part and labor prices have increased 4-8%, while part and labor availability have decreased. Due to difficulties sourcing replacement vehicles, fleets are keeping units in service longer. This caused repair spend to increase in 2021.
Preventative Maintenance Costs Increase 3-5% in 2021
Many factors converged to exert upward pressure on PM costs, such as longer vehicle service lives due to limited product availability; the ongoing transition to synthetic oils; and higher labor rates to attract scarce technicians.