Outgoing Trala Chair Sees Better Times, but Challenges From Liability, Security

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HOENIX — The outgoing chairman of the Truck Renting and Leasing Association told his group’s annual meeting here that business has taken a turn for the better after a long period of stagnant economy and weak consumer confidence levels.

Terry Young, who is also president of Advantage Truck Leasing in Charlotte, N.C., told Trala members March 31 that “from a year ago until today, our economy is improving and our industry is really improving.”

Young cited a mix of favorable economic indicators and developments in trucking that were combining to boost truck rental demand.

Against a backdrop of stronger gross domestic product, consumer confidence and employment conditions, he said a rise in truck tonnage and ebbing concern about trucks with new emissions-reduction technology had left the market improved for the renting and leasing industry.

But executives here also said the leasing industry faced looming fights over its efforts to curb vicarious liability lawsuits, and was trying to determine how the nation’s new focus on security measures would affect equipment leasing firms.

For the full story, see the April 5 edition of Transport Topics. Subscribe today.