San Antonio, TX-based dealership chain Rush Enterprises has announced that all-time record deliveries of Class 8 and medium-duty commercial trucks boosted revenues and net income in the first quarter this year.
The company’s net income jumped to $11.6 million on a 23.9% increase in gross revenues to $497.9 million for the quarter, compared to earnings of $7.7 million on gross revenues of $402 million in 1Q 2005.
Burgeoning truck sales were responsible for most of those numbers, said Rush’s chairman W. Marvin Rush. Its truck segment recorded revenues of $474.3 million in the first quarter, compared to $388.5 million in the same quarter last year, on deliveries of 2,299 new heavy-duty trucks, 891 new medium-duty units and 1,058 used trucks, compared to 2,185 new heavy-duty, 624 new medium-duty and 980 used trucks in the first quarter 2005.
Parts, service and body shop sales increased to $97.5 million in the first quarter from $78.5 million in the same period last year.
“Looking ahead, we expect three of the next four years to be at or near record levels for Class 8 deliveries. Though we anticipate the industry is going to experience a decline in truck sales in 2007 due to new diesel emission requirements, it’ll be followed by strong years in 2008 and 2009,” said Rush.
