ATS Euromaster found that there is a direct correlation between the UK’s ageing fleet and a significant rise in service, maintenance, and repair (SMR) costs.
ATS said that with the proportion of total SMR spend on fleet cars over four years old continuing to surge and the average SMR invoice for older vehicles being 24% higher than for newer models, the financial strain on fleet operators is significant.
This trend was exacerbated by a record high average vehicle age of nine years and 10 months across the UK, according to the RAC Foundation.
Additionally, as models become obsolete, parts become rarer and more expensive, which further drives up SMR costs and extends repair times.
Luke Scott, category manager at ATS Euromaster, said: “To keep older vehicles on the road, I’d say prevention and maintenance are vital.
“As vehicles age, parts become scarcer and more expensive, leading to increased costs and downtime. This is why a proactive maintenance approach is not just advisable, it is essential.
“Older vehicles, particularly those with higher mileage, have a greater need for service, maintenance, and repair (SMR). This leads to more frequent and costly repairs and an increased likelihood of major component failures, such as gearboxes.
“This increased need for SMR has led to more vehicle downtime. Data from Epyx shows that the average time a vehicle spends off-road for repairs has consistently increased and the average lead time for a vehicle to be seen for work—from when the booking is made to when the vehicle is in the workshop—has also risen.
“This is a result of rising demand for SMR meeting largely unchanged service capacity.
“The core issue for fleet operators is a combination of rising costs for parts and labour and the increasing SMR needs of their aging fleets.
“The key recommendation is for fleet operators to proactively review their SMR strategies to ensure they get the maximum use and value from their older vehicles while minimising spending!”
