Optimal Sustainable Vehicle Replacement Model

In this paper, we propose a replacement decision model for a truck, which takes into account both economic aspects of the vehicle and the amount of emission released during its use phase. From an economic perspective, we consider the truck's acquisition, fuel and maintenance costs, and the resale value. For the emission consideration, we calculate the amount of CO2 produced based on the estimated vehicle's miles traveled, emission factor, and fuel use. The latter is a function of the fuel economy, which depends on the truck's model year and its current age.