Sales of Used Trucks Jump 188% Compared with its Fiscal First Quarter Totals Ending Sept. 30
FORT LAUDERDALE, FL (June 2, 2021) – Fleet Advantage, a leading innovator in truck fleet business analytics, equipment financing, and life cycle cost management (LCCM) announced today demand for the sales of its off-lease heavy-duty trucks has increased 188% between the period of October through end of April compared with its fiscal first quarter ending September 30.
The increase correlates with the rising overall demand for used trucks in today’s market. In fact, the Class-8 used truck market saw its hottest month this year in March, with prices increasing nearly 22% at auction and 4.7% at retail, according to J.D. Power1. The firm also noted that late-model prices are up 70% since early 20202.
Fleet Advantage has sold a total of 1,670 used trucks so far during its fiscal year-to-date (July 2020 – April 2021) through its Virtual Used Truck Factory, with sales in excess of $49.9 million.
“We continue to see rising activity and demand for used trucks right now particularly as the inventory for new trucks has tightened due to supply challenges in the production of new units,” said Francis Maloney, Remarketing Sales Manager for Fleet Advantage. “Many of our clients place a premium on our late model used trucks because they come from shorter lease life cycles with fewer overall miles. These newer trucks are also equipped with advanced safety features and provide a reduced emissions impact on the environment.”
As a “Virtual Used Truck Factory,” Fleet Advantage consistently produces a supply of quality used equipment, which allows direct access to late model, low mileage, one-owner trucks at a fraction of the cost that fleets would pay at a retail dealership.
At Fleet Advantage, fleets are buying direct from the source, bypassing all the "middle-men" and reaping the benefits of a lower sale price. Each truck is thoroughly inspected and is delivered in industry trade condition and ready to hit the road. Extended warranties and specialized finance programs are available to fit customer specific needs.
About Fleet Advantage
Fleet Advantage has over $1 Billion of assets under its Life Cycle Cost Management (LCCM) program and serves America’s top corporate fleets. Fleet Advantage guarantees the absolute lowest cost of operation by providing fleet financing solutions with matching proprietary data driven IT processes and fleet analytics, using the latest equipment technology to achieve optimum vehicle productivity and maximum safety. Fleet Advantage is ranked as one of the fastest-growing privately held companies in the state of Florida and the fastest growing independent truck lessor in the U.S.? In 2018, Fleet Advantage was ranked the 9th Top Private Independent from Monitor Daily; and in 2015 and 2013, the company was named to Inc. magazines’ 500|5000 list of fastest growing companies in the nation.? In 2011, CEO John Flynn received the Ernst & Young Entrepreneur of the Year® 2011 Florida – Emerging Category award.?
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1: https://www.ccjdigital.com/trucks/used-trucks/article/15065096/used-trucks-command-topdollar-with-new-trucks-in-short-supply
2: https://www.transportdive.com/news/used-class-8-tractor-prices-trucking-equipment-market/600069/?mod=djemlogistics_h