Equipment Leasing and Finance: March new business volume is up

Equipment Leasing and Finance Association: March new business volume is on the rise

The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity from 25 companies representing a cross section of the $900 billion equipment finance sector, showed their overall new business volume for March was $10.6 billion, up 14 percent year-over-year from new business volume in March 2021.

Volume was up 49 percent month-to-month from $7.1 billion in February. Year-to-date, cumulative new business volume was up 5 percent compared to 2021.

Receivables over 30 days were 1.5 percent, down from 1.7 percent the previous month and down from 1.9 percent in the same period in 2021. Charge-offs were 0.10 percent, up from 0.09 percent the previous month and down from 0.43 percent in the year-earlier period.

Credit approvals totaled 78.3 percent, up from 78.2 percent in February. Total headcount for equipment finance companies was flat year-over-year.

Separately, the Equipment Leasing and Finance Foundation’s Monthly Confidence Index (MCI-EFI) in April is 56.1, a decrease from 58.2 in March.

You May Also Like

GenH2 joins California Hydrogen Business Council (CHBC) Trade Association

The membership-based trade association is comprised of over 140 companies, agencies, and individuals involved in the business of hydrogen.

GenH2 has joined the California Hydrogen Business Council (CHBC), a trade association and advocate for the hydrogen and fuel cell industry in the state. The membership-based trade association is comprised of over 140 companies, agencies and individuals involved in the business of hydrogen, according to the press release. CHBC’s membership includes businesses such as Chart Industries, BMW North America, Hyundai Motor America, Linde, Nikola Motor Company, and Trillium-A Love’s Company, among others.

Answering the biggest zero-emissions trucks questions

Volvo Trucks fields questions from what type of zero-emissions technology will work for certain applications and how it impact fleets.

Roger-Alm-Jessica-Sandstrom-Volvo-Trucks-1400
Hyzon Motors announces new board chairman, vice chairman

Erik Anderson will serve as chairman, and Andrea Farace becomes vice chairman.

Volvo Trucks on its global zero-emissions trucks strategy

Hydrogen fuel cell development, electric truck technology and infrastructure rollout dominates the conversation.

Volvo-Trucks-Zero-Emissions-Global-Featured-1400
Major fleet operators call on U.S. states to adopt zero-emissions regulations

The ACT rule will require significant growth in the production and sale of zero-emission trucks, vans, and other large commercial vehicles by 2035.

fuel-generic-1400

Other Posts

Fullbay launches fourth annual State of Heavy-Duty Repair survey

The final report will be available for free download in early 2024.

Heavy Duty Aftermarket Week to return in January

This year’s event will take place Jan. 22-25, 2024, at the Gaylord Texan Resort in Grapevine, Texas.

Equipment Leasing and Finance Association releases Monthly Leasing and Finance Index

The association notes that volume was down 9 percent from $10.9 billion in June.

ClearFlame Engine Technologies reports early results from ethanol-based engine pilot program

The pilots document ClearFlame’s upfitted enthanol-based engines.