While forklifts are sturdy and reliable machines capable of working well for a decade or more, they don’t last forever. But how do you know when it’s time to buy a new forklift? For most businesses, operational bottlenecks, technical problems, or component breakdowns offer the hint.
If you want to avoid the costly downtime that results from a broken forklift, you have to take a proactive approach. Here are the seven signs that can tell you that it’s time to buy another forklift.
#1. Look at the numbers
General guidelines say you should consider replacing a forklift once it has accumulated around 10,000 operating hours or reached 10 years of service. However, these numbers are just a guide and won’t automatically tell you that you need to purchase a new forklift.
High-end forklift trucks from brands like Toyota can last as much as 20,000 operating hours. Additionally, electric forklift trucks have fewer moving parts than their IC counterparts. So consider each machine on a case-by-case basis, but start looking out for the other signs on our list once your forklift truck starts nearing 10,000 operational hours.
#2. Performance decrease
As machines age, their performance can start to dip. Sometimes, it’s a subtle decline that is hard to notice; other times, it’s glaringly obvious. If lifting speed or capacity diminishes, it’s usually a sure sign that you need to buy a new forklift.
Some of the key performance indicators (KPI) for forklift performance that you can track include:
- Utilisation rate.
- Maintenance costs and frequency.
- Loading and unloading speeds.
- Traction
- Braking
- Energy efficiency
Thanks to sensors and telematics, this data is easy to track. Implementing a fleet management system is a good idea if you have a lot of forklifts whose performance you need to monitor.
#3. Technology is passing you by
Imagine this scenario. You’re speaking to colleagues and reading industry news, and you’re constantly blown away by the advances in forklift truck technologies. However, despite wishing to benefit from interesting features like advanced ergonomics, fleet management systems, or IoT integration, they’re impossible with your current setup.
If you feel like the benefits of modern forklift technology are passing you by, it’s a reliable indication that it’s time to buy another forklift. However, don’t rush out and buy the shiniest new thing. Do your research to ensure any new forklift fits in with your needs and overall business objectives. Additionally, if your budget for a new machine is tight, consider refurbished models from popular brands to help you catch up.
#4. Excessive downtime
Even the most comprehensive and strict 250-hour maintenance schedule won’t ensure you avoid downtime for your forklift truck. Breakdowns and repairs are an unfortunate reality of owning large machinery like forklifts, especially when they’re pushed to their limits regularly.
Industry benchmarks suggest that forklift availability should be at least 95%. Keep track of machine downtime, and if it dips above 5%, it could mean that it’s a sign to purchase a new forklift.
Of course, this metric alone is not enough to justify a new forklift. Dig into the repair report and consider the viability of replacement or refurbished parts before you resign yourself to a new machine.
#5. Shifting operational requirements
New contracts, business expansion, or a change of premises can cause operational requirements to shift overnight. While you’ll hopefully have enough time to prepare and adjust, these new paths can render your forklift trucks inadequate for meeting new lifting capacity requirements, changes in aisle width, or specific industry requirements.
Some modern forklift trucks are modular and customisable. Whether you are buying or hiring a new forklift, factor this flexibility into your thinking if you want to future-proof your fleet.
#6. Energy inefficiency
Fuel and electricity price increases have been a major source of frustration for UK businesses over the last few years. When the costs of delivering your service shoot up dramatically, it affects prices and profitability. As such, energy efficiency is an important consideration for forklift truck-owning businesses.
If you have a forklift with an internal combustion engine, you might notice that it lacks the efficiency of more recent models. One prompt to purchase a new forklift could be that you’re spending a lot more on fuel because your machine is well below industry benchmarks.
Of course, modern battery-operated forklift trucks are a significant upgrade in terms of energy efficiency. Some research suggests these machines are at least 30% more fuel-efficient than older models.
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#7. Difficulty sourcing replacement parts
If sourcing replacement parts for your forklift truck is challenging or expensive, it’s usually a strong indicator that it’s time to buy another forklift. Older or less well-known models of forklifts can still do the job, but when they break down, getting them repaired isn’t always straightforward.
The costs of repairs are typically calculated in terms of parts and labour. However, you also need to factor downtime into the overall figure. If parts are obscure or not being made any longer, it can significantly add to the time it takes to get your machine working again. What’s more, for complex jobs, you might even struggle to find mechanics who know these archaic machines inside out.
Once a model is more than 10 years old, replacement parts typically become scarce and expensive. If you’re struggling to locate the components you need to get your machine operational, it’s probably because you need to buy a new forklift.
However, bear in mind that some manufacturers offer improved parts availability for newer models through advanced inventory management systems and 3D printing technologies.
Final thoughts
Predicting the useful life of any machine involves dealing with a level of unpredictability. Different brands, models, operational use cases, and maintenance schedules will all lead to different results.
The best thing that you can do is be vigilant and look out for the signs, whether they come from performance data, mechanical issues, business changes, or excessive servicing. You don’t need your machine to break down to know that it’s time to buy another forklift truck. Follow these seven cues, and you’ll always have a feel for when your machine has reached the beginning of the end. And of course, if you are looking to purchase used or new forklifts, do get in touch with our teams in Leicestershire, Northamptonshire, Birmingham, Warwickshire, Nottinghamshire, Derbyshire, East Midlands, or West Midlands
