Private Truck Fleets Look to Leasing

According toBloomberg/BusinessWeek, America’s truck fleet is the oldest it has been in more than 30 years. The good news is demand for new trucks is on the rise. The bad news is the cost to buy a new commercial truck has jumped more than 30 percent for heavy-duty and medium-duty trucks over the last few years due to new emission system technologies.

Little wonder that the National Private Truck Council’s (NPTC) 2010 “Annual Benchmarking Survey” found the number one concern of their members were costs followed closely by customer service. The NPTC is a trade association representing private motor carrier fleets. (Note: Penske is an allied member.)

According to their most-recent survey, private fleets seem to be moving more toward leasing trucks. The survey found “a total of 50 percent of the member companies responding to the survey reported leasing the majority of their equipment (up from the 37 percent that reported doing so over the last two years).”

Considering alternatives to ownership to control costs? Contact us to explore the options available to you and your business. We can help.

By Randy Ryerson