Old trucks create replacement demand

One of the effects of the relatively weak North American market for heavy-duty trucks during 2007 to 2010 is that the truck fleet has become increasingly old. Generally, older trucks bring with them an increased need for service and repairs and thus increased costs for truckers. In spite of the investment a new truck entails, in many cases it is more profitable to buy a new truck to lower the total cost of ownership. Against the background of a truck fleet that is at its oldest in many years, there is a need to replace old trucks with new ones at many haulers.