White Paper: The Cost of Speeding and Potential Savings Using SpeedGauge
Vehicle speed is the single most significant operational cost variable directly attributable to driver behavior: how fast truck drivers choose to drive corresponds directly to the rate and cost of truck crashes, vehicle wear and tear, and fleet fuel efficiency. However, many fleet managers have only a very vague idea of the direct and indirect financial costs of speeding in terms of how it increases the risk of crashes, maintenance, and fuel consumption.
SpeedGauge is a new kind of speed-control system that goes beyond traditional technologies by bringing context (“where exactly was the driver speeding?”) and analysis (“is this particular driver doing better or worse than last week?”), and by providing fleet managers with a variety of easy-to-use, point-and-click software tools for fine-tuning precisely how, where, when, and to what extent aggressive driving is to be discouraged within a fleet, allowing fleet managers to fine-tune driver behavior in highly granular ways not previously possible.
This white paper estimates, first, the all-in cost of speeding per mile driven for large trucks in terms of the direct and indirect financial costs of truck crashes, incremental maintenance, and excess fuel consumption attributable to speeding; and second, the potential cost savings per mile fleets can achieve by using SpeedGauge as a method for monitoring and controlling vehicle speed.
Of particular importance, the paper differentiates between truck crashes that occur within the high-speed Interstate System and those that occur outside of it — that is, on bi-directional roads where traditional truck speed limiters and governors are ineffective as speed-control methods. Costs and potential savings are estimated separately for both classes of road.
Finally, in addition to estimating these costs and potential savings for large trucks, the paper also explores, albeit in much less detail, the comparable figures for fleets with lighter vehicles.
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