International Trucks Dealer Hosts Presidential Visit
This story appears in the June 14 print edition of Transport Topics.
Stephen Neal, chief executive officer of K. Neal International Trucks Inc., said June 4 was “quite a day” for his Hyattsville, Md., dealership.
After all, it’s not every day that the commander-in-chief drops in to walk the showroom and discuss the nation’s economic recovery.
“It was a huge deal,” Neal said of President Obama’s visit. “Of all the industries he could visit and all the companies he could visit and spend an hour-and-a-half with, he chose the trucking industry, and he chose K. Neal to do so, with our families and our customers that were here that day. That was huge for us and very exciting.”
Obama went to Neal’s dealership after the Labor Department reported that the nation’s unemployment rate fell to 9.7% in May.
“This economy hasn’t returned to prosperity yet, but we’re heading in the right direction,” Obama said. “There are going to be some ups and downs. . . . But if we remain determined, if we stick to it, if we stay the course of investing in our people and businesses like K. Neal that are the heart and soul of America, then I’m absolutely positive we can succeed.”
Neal said he talked to the president about the economy and “trying to get us, as a truck dealer, a little bit more of a jump start as it relates to new trucks.”
“In leasing, we’re doing very well, but people are still apprehensive about buying expensive equipment — and whether there was an opportunity to have some kind of stimulus to help with that,” Neal said.
Sales of new Class 8 trucks rose 29.5% in April from the same month last year — but are still below historical averages (click here for previous story).
“After two years of recession that caused so much pain in so many communities, this is also an example of a company that is starting to see business pick up again,” Obama said, telling the audience that Neal had told him “there’s a pent-up demand out there for new equipment . . . and Stephen said if things keep on going well, he’ll add more in the months ahead.”
Neal told Transport Topics that his dealership had “already put five new people on in the last 60 days,” including a manager and four new salespeople.
“We just see the marketplace changing. There’s more inquiries, and people are talking about things,” he said. “We’re selling more on the previously owned side.”
Obama held K. Neal up as an example of the economic turnaround.
“We’re hearing more and more stories like that all across America. A lot of businesses were hit hard during this downturn, but they’re starting to hire again,” Obama said.
“Workers who were laid off, they’re starting to get their jobs back. Companies that were almost forced to close their doors are making plans to expand and invest in new equipment.”
