Replacing older, less efficient lift trucks at the right time can reduce your maintenance costs, improve your productivity, and, most importantly, save money and maximize your return on investment. As a result, your profitability goes up, which is why understanding when to replace a forklift economic life cycle is crucial. In an economic downturn, there is a tendency to postpone the purchase of new equipment. This may be a costly mistake when you consider the overall forklift replacement lifecycle.
When lift truck fleets are not maintained appropriately or utilized efficiently, downtime increases, productivity is reduced and you end up spending money when you should be making money. This affects your bottom line when more money is being spent on a poorly maintained fleet that doesn’t perform as cost effectively as it should. So how do you make the right repair vs replace forklift decision, evaluate your operating hour replacement thresholds, and establish the right time for your fleet retirement planning to make a new, significant purchase?
