Penske Truck Leasing opens state-of-the-art facility in Ohio
Penske Truck Leasing has recently opened a brand-new, state-of-the-art facility in Monroe, Ohio. Located at 100 Clark Boulevard this new facility expands Penske’s capability to support this growing Ohio market and allows increased aid to the large territory between its Sharonville and Dayton sites. At this location, Penske offers consumer and commercial truck rental, full-service
Skagit Transportation leverages leasing to maintain preferred status as a top carrier
Like many successful trucking companies today, change and diversification drive the success of Skagit Transportation, headquartered in Mount Vernon, Wash. The company was originally started by Bud and Dode Egbers in the 1940s, hauling grain and hay on their four trailers for local farmers. That grew to hauling bulk foods and ag products throughout the
Equipment Leasing and Finance Foundation forecasts 5.9% expansion in annualized equipment, software investment growth
After a strong rebound in Q1, overall equipment and software investment growth is expected to slow significantly over the remainder of the year, though demand in some end-use markets should remain healthy. The Q3 update to the 2022 Equipment Leasing & Finance U.S. Economic Outlook, released by the Equipment Leasing & Finance Foundation, forecasts equipment and software
Monthly Leasing and Finance Index new business volume up 16% y/y, down 10% m/m
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 May was $9.4 billion, up 16 percent year-over-year from new business volume in May 2021. Volume was down 10 percent from
Penske Truck Leasing opens new, state-of-the-art facility in New Jersey
Penske Truck Leasing has opened a brand-new, state-of-the-art facility in Cranbury, New Jersey. Located at 2682 US 130 North, near exit 8 and 8A of the N.J. Turnpike and U.S. Route 1, it is the first-ever, ground-up build in its South Plainfield District. At this location, Penske offers consumer and commercial truck rental, full-service truck leasing and contract truck fleet maintenance. It
Equipment leasing and finance new business volume ticks upward year over year
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 April was $10.5 billion, up 7 percent year-over-year from new business volume in April 2021. Volume was relatively unchanged from $10.6
Penske orders 750 Ford E-Transit electric cargo vans for its rental, leasing fleet
Penske Truck Leasing announced it has ordered 750 all-electric Ford E-Transit cargo vans. The company is taking delivery of its first several vehicles in the next several weeks. The move follows successfully piloting the vehicles late last year. Penske’s first Ford E-Transit vehicles will be made available in Southern California with other locations around the U.S. phased
Penske Truck Leasing dedicates diesel training classroom at WyoTech in Wyoming
Penske Truck Leasing recently held a dedication ceremony at the WyoTech campus in Laramie, Wyoming, as the company branded a diesel training classroom. The classroom will be utilized for hands-on diesel technology training, which introduces students to various training such as diagnostics, fuel and engine exhaust system, maintenance and repair, industry certifications and career opportunities in the industry. Over the last
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
Penske Truck Leasing to acquire DeCarolis Truck Rental Inc.
Penske Truck Leasing announced it has reached an agreement to acquire the assets of Rochester, N.Y.-based DeCarolis Truck Rental Inc. Financial terms were not disclosed. This transaction is subject to customary closing conditions, including certain regulatory approvals. The parties involved anticipate closing the transaction on December 17, 2021. Founded over 80 years ago, DeCarolis Truck
