Fleet Advantage announced it has been active in the sales of off-lease used trucks this year, with total units sold exceeding 400 units in its fiscal first quarter ending Sept. 30, 2020, with sales in excess of $10 million.
There has been more buying and selling activity of new and used heavy-duty trucks since the COVID-19 pandemic. According to the most recent report from ACT Research, “unforeseen robustness of the perfect storm of positives into late spring and summer, following the initial shock of COVID-19 shutdowns and other mitigation efforts, has resulted in sharp upgrades in commercial vehicle expectations since May.”
Amplifying this further, more companies are looking to replace aging trucks earlier in their life cycle to realize greater cost savings newer equipment offers in reduced fuel, improved maintenance and safety expenses, as well as lower emissions output.
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To help its clients with the sale of used off-lease trucks, earlier this year Fleet Advantage hired Francis Maloney as remarketing sales manager. Fleet Advantage says it serves America’s premier private transportation fleets and therefore has a consistent inventory of quality used equipment, which are late models with low mileages. This means that even the secondary buyer is acquiring a truck that’s in better condition than the average used heavy-duty unit and they also benefit from lower fuel, maintenance and safety expenses, in addition to improved emissions output.
In September alone Fleet Advantage sold 229 off-lease used trucks for over $6.2 million in revenue. According to Maloney, “we continue to work with our clients as we have a large backlog of committed transactions in October with robust demand in the coming months. As more demand for the shipment of goods requires additional truck transportation, we expect the market for off-lease used trucks to remain strong for the foreseeable future.”