The overall percentage total of Class 2-8 over the road trucks and tractors has increased considerably compared with a decade ago and even in the past year. The number of Class 2-7 trucks purchased by TRALA members increased by 8.2 percent over 2017 numbers and Class 8 tractors purchased increased significantly, up 54.2 percent from just one year earlier.
Even taking into consideration the overall uptick in truck purchases last year, TRALA members increased their overall segment of the Class 2-7 truck purchase market from 29 to 30 percent and their Class 8 tractor percentage went from 27 to 30 percent, TRALA says.
The association says the trend toward leasing and renting comes as the cost of purchasing and maintaining vehicles increases and the need to access a company’s capital becomes even more critical. TRALA members provide its customers with the latest in environmental and safety technologies and allows small and large businesses the ability to expand and keep more money invested in their own companies and workers, TRALA says.
ACT Research conducted the industrywide survey of all TRALA members and compiled the aggregate totals to illustrate the size and scope of the U.S. truck renting and leasing industry. These results demonstrate the importance and impact that the industry has on the U.S economy, TRALA says.
These numbers not only showcase the trend towards renting and leasing, but they also significantly help in TRALA’s advocacy efforts on Capitol Hill and in the states. When TRALA is able to educate lawmakers as to the impact a particular piece of legislation has on the renting and leasing industry, it makes a difference when it’s backed up with statistics such as purchasing 30 percent of all commercial over the road trucks and tractors in the U.S., TRALA says.
CLICK HERE to see the full survey results.
