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REPORT * USA - Truck lease-finance sector hurt by economic crisis
Washington,DC,USA -Today's Trucking -15 Dec 2008: -- The world of truck and trailer leasing and financing is being impacted by the low demand for new trucks and trailers, according to the latest report by the Equipment Leasing and Finance Foundation... In the report by Global Insight, "2008-2013 Transportation Outlook Series: Truck and Trailer Financing Trends," the authors explain that while the transportation leasing and financing business is looking decent, the truck and trailer equipment sale markets are not, and this is negatively impacting the number of leases made and the financing for those leases... While the leasing and financing industry avoided getting into the subprime mortgage mess in the U.S., tightening credit standards and lower tolerance for risk are preventing many companies from expanding their fleets... The credit crunch, however, has reduced the availability of financing and increased the cost of capital, causing companies that would previously have bought or leased more expensive new vehicles to choose cheaper used equivalents... In this environment, the authors note, some carriers are opting for full-service complete fleet management solutions, to transfer some of the risk to the lessor. If this trend continues, banks, which are already pulling back from leasing trucks and trailers, could surrender even more market share... (Photo: Carriers are opting for full-service fleet management solutions from lessors)Labels: reports
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