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
Hino Trucks delivers first Cummins-powered truck to Penske Truck Leasing
Hino Trucks has delivered the first of its trucks with Cummins engines to Penske Truck Leasing at a ceremony in their plant in Mineral Wells, West Virginia. The OEM intends to produce medium- and heavy-duty Hino trucks with Cummins engines for sale in North America by the end of 2021. The truck delivered is a
Penske Truck Leasing opens new West Fargo facility
Penske Truck Leasing has opened a new full-service location in West Fargo, North Dakota, located at 830 7th Street NE. The facility is 14,520-sq.-ft. and is located on 4.3 acres. It has three truck service bays, wash bay and a self-service fuel island. This Penske location provides access to both I-94 and I-29. “We have been in this area for 16 years, and it was
Penske Truck Leasing pilots Stem Inc.’s Athena EV charging software
Penske Truck Leasing has worked with Stem, Inc., a provider of artificial intelligence-driven energy storage services, to pilot its Athena smart energy storage software and operate an advanced battery storage system. The pilot project included a 350 kilowatt (kW)/800 kilowatt hour (kWh) battery system powered by Stem’s Athena at Penske’s heavy-duty truck charging positions in Ontario, California. “We collaborated with
Equipment Leasing and Finance Association releases July Monthly Leasing and Finance Index
The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index, 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 July was $9.9 billion, up 9% year-over-year from new business volume in July 2020. Volume was down 5% month-to-month from $10.4
Equipment Leasing & Finance Foundation forecasts equipment investment growth
As businesses across the country continue to invest during the post-pandemic recovery, annual equipment and software investment growth of 13.3% is forecast for 2021. Annual U.S. GDP growth for 2021 is forecast at 6.1%, according to the latest release of the 2021 Equipment Leasing & Finance U.S. Economic Outlook from the Equipment Leasing & Finance Foundation. Scott Thacker,
New business volume up 9% y/y, ELFA’s Monthly Leasing and Finance Index shows
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 February was $7.4 billion, up 9% year-over-year from new business volume in February 2020. Volume was down 9% month-to-month from $8.1 billion
Penske Truck Leasing expands heavy-duty EV charging network
Penske Truck Leasing has opened its sixth heavy-duty electric vehicle charging station in Southern California. Penske’s latest EV charging station in Ontario, California is equipped with a battery energy storage system, manufactured by Fluence Energy, LLC, which is designed to offset demand on the electricity grid during peak charging times. Siemens provided the eMobility hardware
Penske offers fleets ‘Get Back to Business’ leasing options
Penske Truck Leasing is offering fleets a “Get Back to Business” full-service truck leasing offer with low rates and flexible lease terms on late-model, low-mileage vehicles. Business owners can choose from 16-ft. light-duty, 26-ft. medium-duty and tandem-axle day cab and sleeper tractor options with low mileage. Penske leases and maintains brands including Hino, Freightliner, Ford,
Penske Truck Leasing upgrades Fleet Insight website
Penske Truck Leasing has released the next iteration of its Fleet Insight customer website with enhanced navigation and expanded, customizable data sets for each fleet’s operation. In June 2018, Penske launched Fleet Insight, a website designed exclusively for its customers, which the company says provides a detailed look at a fleet’s overall efficiency, costs and
