We do the bulk of our own maintenance and repair. So we have an extensive network of repair facilities. We also build, I’d say, 70% of our cargo boxes. So we have a whole network of assembly plants. And we’ve — and before, we’ve converted them all and just basically rehab trucks and gone ahead. And that could be where this goes. We have a store of rebuildable engines and transmission drivetrains. We have a warehouse full of them that we’ve accumulated. All these are trying to hedge our bad, okay? But we haven’t seen that, but that’s a big opportunity right at this time, no.
Steve Farrell: That’s helpful. I do know how much more of an increase in — and you said it’s 2 to 3x inflation. Do you know at what rate it would make sense economically?
Joe Shoen: No, I don’t have a number on that. We’re just kind of — what do you want to call it, stumbling into it. One of the nice things about — I’ll pick on Ford, they simply have got this internal combustion engine dialed in. It’s not the engine that you and I knew about in high school. This thing is a finely designed engine. You don’t replace rings and valves. It just doesn’t happen. These motors run, run, run, run. They’re beautifully made. They’re very fuel efficient. So we’ve got some savings from that, which now, of course, they’re making us give back basically, okay? But the vehicles we bought 4 years ago were pretty much at this level. And we — and Ford is criticized on quality a lot in the press. And of course, they’re not perfect, but having dealt with them for 40 years, they got a considerably better quality product now than they sold us 20 years ago.
And so we enjoy that. That impacts a little bit. Would you repower it or do these sort of things? Before, you could see, you did a lot of repowering at 80,000 miles. Right now, we’re going to see 140,000 miles and more. We’ll have the occasional engine hand grenade, but no, they are not — they don’t — they’re not wearing out. The day of putting in valves and rings and just go on, it doesn’t happen. You don’t put in bearings. It just — it doesn’t happen. These motors are well built. Well, you can see it with oil, it drips out. They just don’t drip oil. It used to be every place we had, we had oil puddles everywhere, because the motor leaked. Well, the motors don’t leak today, they’re just so — they’ve got this manufacturing of the internal combustion engine just as close to perfect as I could even imagine.
It’s a beautiful operation, and so the vehicle runs. So the van boxes, we do some reuse of van boxes. We have a whole program there. We try to — we consider the truck has 3 lives, first live is in our One-Way fleet, second live is in our in-town fleet in the third life could be anything from we turn it into a storage room to we sell it to a plumber and that person carries on for 10 more years with a truck visiting your home and fixing your plumbing. So there’s — we’re keenly aware of these different alternatives, and we try to do them to optimize this, but it’s far from a calculation. It’s not a, I’ve got a model that just says, okay, to you today, we start doing x. No, it’s not that clear at all.
Steve Farrell: And you mentioned that the price per mile was up incrementally year-over-year. Do you know where we are compared to pre-pandemic?
Jason Berg: Stephen, this is Jason. I — we don’t disclose specific numbers, but I would say that starting during the pandemic, we saw those numbers increase for both one-way and In-Town that’s been steady throughout. This year, 1-way has increased, but that’s the 1 I was referencing. In-town is about flat with where it was last year at this time.
Operator: There are no further questions at this time. I will return the conference back to the management team.
Joe Shoen: Well, I want to thank everybody for joining us. We’re — everybody, I can assure you as busy and concentrate on doing work, and I would expect we will continue to progress and hopefully have results that everybody can live with.
Operator: Thank you. This does conclude today’s conference call. Thank you all for attending. You may now disconnect your lines.
