MIAMI – Despite the bruising effects of the current economic downturn on the trucking industry as a whole, the truck renting and leasing industry may actually benefit from the situation in a few areas.
For example, Truck Renting and Leasing Association president Peter Vroom said one of the “silver linings” of low used-truck prices is that fleets are deciding to hang on to their new equipment longer than the three-to-five year trade cycle that’s become commonplace to derive the most value out of it.
That means demand for contract maintenance services should rise, he said.
“We anticipate seeing a heck of a lot more demand for contract maintenance,” Vroom told Fleet Owner. “We anticipate our industry will provide much more contract maintenance service in the near future, because we have the networks already in place to provide it.”
He also said the truck leasers are finding ways to manage the “hand they have been dealt” in terms of falling used-truck values. With more used trucks predicted to stay on the road, the leasing industry is extending its packages for formulating leases for used vehicles – a scenario that makes “economic sense” for a lot of fleets in this down market, said Vroom.
“Our industry has some of the best used equipment out there, because we maintain it to a degree many fleets can’t and keep detailed maintenance records,” he said. “For fleets looking to purchase good quality used trucks, our industry is in an excellent position to help meet that need.”