Leasing Increasing as Percentage of Truck Market

posted in: Market News | 0

According to a new industry survey released by The Truck Renting and Leasing Association (TRALA), members purchased 29% of all Class 2 through 7 commercial trucks in the U.S. and purchased more than 23% of all Class 8 tractors in 2016.

The overall percentage total of Class 2-8 over the road trucks and tractors was 27.6% in 2016, which is a significant increase compared to less than a decade ago.

As the cost of ownership increases along with the complexity of equipment, more and more companies are turning to Full Service Leasing. Companies can focus on their core competencies and let the leasing company handle the fleet. A strong leasing company will have the ability to act as an extension of the customer’s business and free up both capital and other resources that can be applied to the customer’s operation in a more effective manner.

 

Leave a Reply

Your email address will not be published. Required fields are marked *