Trucking Is Growth Business for Leasing, Finance Firms
Trucking has become a growing portion of business volume for companies that lease and finance equipment, a new study showed.
Financing activity for trucks and trailers increased to 13.4% of financing business, up from 12.8%, the Equipment Leasing and Finance Association reported. Trucking accounted for 7.3% of overall new business volume in 2015, up from 6.4% the year before.
New financing activity in all types of businesses rose 12.4% last year, according to a survey by ELFA of 116 member companies that found transportation equipment was the most popular type of business that used ELFA members’ services.
“The rise in new business volume marked the sixth consecutive year that businesses increased their spending on capital equipment,” the group’s statement said.
“The equipment finance industry saw positive growth overall in 2015, as reported in the 2016 Survey of Equipment Finance Activity,” ELFA President Ralph Petta said. “More recent data collected in the first two quarters of 2016 suggests the equipment finance industry is entering a period of slower growth as business confidence and global markets appear increasingly volatile."
