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

Penske’s Catalyst AI compares fleets in real time

Penske aims to improve the time consuming practice of manually planning fleet decision off of annual forecasting and benchmark reports.

Penske-Catalyst-AI-Truck

Penske Truck Leasing unveiled its new Catalyst AI—an artificial intelligence platform that Penske says gives fleet managers real-time insight into fleet performance. According to Penske, Catalyst AI compares a fleet's performance to similar fleets across Penske's live database of hundreds of thousands of vehicles in real time. The company adds that this platform lets managers benchmark fleets using apples-to-apples comparisons, unlock fuel efficiency opportunities, optimize utilization, and business performance using targeted insights.

Grote, Star Safety Tech appoint regional sales manager

Hochapfel has 18+ years of safety tech expertise, which is expected to help build and fortify client relationships.

Gunther-Hochapfel-hired-by-grote-industries
NHTSA finalizes AEB rule for light-duty trucks; heavy-duty rule being finalized

By 2029, vehicle manufacturers must make AEB standard in cars and light trucks, to help reduce vehicle and pedestrian crashes.

NHTSA logo
Intangles says InRoute Connect speeds up maintenance turnaround

Intangles says InRoute Connect detects issues before a diagnostic code is triggered, giving drivers more time to get to a service facility.

Intangles-InRoute-AI-maintenance-management
Bestpass hires new executives

The new hires are expected to help Bestpass scale service offerings and network integrations for commercial fleets and owner operators. 

logo-Bestpass-Shay-Demmons-Scott-Chao-executive-hires

Other Posts

FTR: March trailer production, orders down year-over-year

FTR says trailer production dropped 21% y/y, March orders were down 18% y/y and 25% below the average for the last 12 months.

FRT-March-net-trailer-orders
ACT Research numbers: Heavy-duty down, medium-duty up

ACT says after a year of unexpected growth, March orders may finally indicate a slowdown in capacity additions.

ACT-class-8-net-march-2024-orders
Daimler Truck reports good start to 2024

Despite lower Group unit sales, Daimler Truck says it continued toward a robust profitability in normalizing markets for Q1 2024.

Daimler-Truck-Q1-2024
Commercial tire market cautiously recovering from 2023 challenges

To better understand commercial tire expectations for the remainder of the year, we spolke with Pierluigi Cumo, VP of B2B products at Michelin North America.

Michelin-truck-tires