PacLease reports 20 percent growth in truck rentals

PacLease reports 20 percent growth in truck rentals

PacLease has seen a 20% jump in Class 8 truck rentals across the U.S., reports Chachi Hernandez, PacLease’s national director of rental operations. According to Hernandez, the biggest increase came on the West Coast, which has seen a 25% jump. Hernandez added that medium-duty rentals have been strong as well.

“Prior to the spike, there were a lot of unknowns with where the economy was headed,” he said. “But confidence has strengthened and the economy is growing. Increased rental activity signals an increase in leasing and sales of trucks. PacLease is well positioned with our customers; over the past five years our franchise rental fleet has been growing at an annual 8% clip.”

Hernandez offered his take on the reasons behind the jump.

“Traditionally, customers might have a truck in the shop and need a short-term replacement; or they get a new customer who needs immediate servicing now, and secure a rental unit to handle the business while they shop for a new truck,” he said. “We’re also finding some customers who have ordered new trucks and use rental trucks as a bridge. Older trucks will have maintenance needs; many fleets trade them in when they order, or put them up for sale themselves. Those customers want the fuel efficiency and driver comforts a new truck offers. PacLease Kenworth or Peterbilt rentals provide these benefits since we only carry new and late model units.”

You May Also Like

Synop, Geotab announce EV charging integration solution

This integrated solution will combine Synop’s software with Geotab’s data insights.

Synop, an electric vehicle operations platform, and Geotab have announced a partnership that will give fleet operators in North America access to integrated EV charging and energy management within Geotab’s software platform, MyGeotab.

Commercial fleets, which include maintenance vehicles, delivery vans, semi-trucks, rental cars, government vehicles and school buses, face many obstacles when integrating EVs, including energy price volatility, multiple charging requirements, and prolonged charge cycles. According to the companies, integrating Synop’s software with Geotab’s data insights allows customers to manage their EV assets in real-time on a single, unified platform.

Michelin Connected Fleet delivers new suite of fleet-management solutions

Michelin has officially launched the Michelin Connected Fleet brand in North America, bringing an all-new portfolio of fleet-management solutions to the commercial trucking industry that combines connected-vehicle technology with performance analysis and services. Michelin Connected Fleet,  powered by NexTraq LLC, offers solutions for truck management, trailer management, ELDs and driver safety, plus smart report services

Explaining the truck operating system that’s spanning makes, models

Platform Science’s Virtual Vehicle aims to be the operating system of the trucking industry.

Kodiak Robotics announces new COO

Kodiak Robotics appoints former USA Truck CEO James Reed as COO.

The importance of flexibility in truck maintenance, ADAS in truck winterization plans

Winterization requires fleets to consider advanced technology, including ADAS for safe driving.

Other Posts

Volvo Trucks shares volume, market share records in 2022

The company says it executed its best performance in 2022 in the company’s history.

Volvo trucks 2022 record year
Class 8 truck orders hit 18,400 units in January

The final four months of 2022 brought about 159,000 Class 8 net orders.

U.S. Bank: Truck freight volumes continue to decline

The fourth quarter 2022 decline points to potential capacity tightening.

Significant increase in TL spot rates observed for early 2023

While market conditions remain broadly loose, ACT Researchers say they are seeing more signs of slowing supply.