Tires, transmissions lead maintenance price increases in Q2

Shop labor and parts prices were on the rise between the first and second quarters of 2021 – with tires and transmissions accounting for some of the biggest gains.

Labor costs for repairs and maintenance were up 2.6% during the period, with parts prices up 2.8%. But tire costs were up 10.7%, and transmission parts were up 9%, notes the Decisiv/TMC North American Service Event Benchmark Report.

Tires were among the components to see the largest price increases during Q2. (Photo: Jim Park)

Service activity in general was on the rise because of higher vehicle mileage and a growing number of trucks, said Decisiv president and CEO Dick Hyatt. “Ongoing economic growth has led to a rise in freight volume and demand for carrying capacity. That is also being driven higher by the need to replenish supply chains that have been depleted due to manufacturing and distribution shutdowns during the pandemic.”

When comparing the second quarter of 2021 to the same period in 2020, lighting systems costs were up 17.4%, transmission costs rose 16.4%, and brake costs were up 11.1%.

The reports tracks parts and labor costs in brakes, steering, tires, transmissions, electrical, charging, lighting, exhaust and engine systems.

The data draws on more than 7 million commercial vehicle assets in the U.S. and Canada that are serviced using Decisiv’s SRM platform, reflecting more than 600,000 monthly maintenance and repair operations across nearly 5,000 locations.

Details were released during the fall meeting of the American Trucking Associations’ Technology and Maintenance Council (TMC).