From its beginnings in 1950 as a single, small used truck lot in Kansas City, MO, to the present day with its 19 retails stores and inventory of more than 2,500 vehicles of all makes and models, Arrow Truck Sales has been an American success story.
Arrow, which celebrates 60 years in business in April, began with an $8,000 investment from business partners Jerry Nerman and the late Melvin Spitcaufsky. Nerman, who announced his retirement in February at the age of 90 “to pursue other interests,” guided the business from its beginnings through deregulation in the 1980s, including eventually launching its own financial arm, Transport Funding.
The Volvo Group purchased 50% ownership in November 1998, acquiring the rest of the company in 2001. Current president & CEO Carl Heikel was named to his post in 2004.
“It’s truly amazing, and even a bit humbling, to realize where Arrow started as a company, and see where we are today,” said Heikel. “Our success and growth through the years is a direct reflection of our dedicated people, quality products, exceptional customer satisfaction and perseverance in an extremely competitive industry. Ironically, Volvo was founded in the same month as Arrow, although just 23 years earlier – April, 1927.”
Throughout the 1950s and ‘60s, Arrow did well financially, primarily wholesaling trucks. It moved into its current headquarters in 1977. Deregulation provided a boon to the business in the ‘80s, allowing for expansion. The first retail store opened in Atlanta in 1984 followed by the finance company in 1990.
Nerman was also instrumental in the formation of the Used Truck Assn.
To celebrate its anniversary, Arrow is planning corporate and branch events, including customer and vendor appreciation events this summer.