Vehicles are important elements of military transport systems. Semi-Markov processes, owing to the generic assumption form, are a useful tool for modelling the operation process of numerous technical objects and systems. The suggested approach is an extension of existing stochastic methods employed for a wide spectrum of technical objects; however, research on light utility vehicles complements the subject gap in the scientific literature. This research paper discusses a 3-state semi-Markov model implemented for the purposes of developing reliability analyses. Based on an empirical course of the operation process, model was validated in terms of determining the conditional probabilities of interstate transitions for an embedded Markov chain, as well as parameters of time distribution functions. The Laplace transform was used to determine the reliability function, failure probability density function, failure intensity, and expected time to failure. Readiness index values were calculated based on ergodic probabilities.