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The rise of rental and leasing in the used truck market

23rd January 2014
Page 19
Page 19, 23rd January 2014 — The rise of rental and leasing in the used truck market
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Which of the following most accurately describes the problem?

In the past four years, the used truck market has seen rental and leasing companies take more responsibility for their own assets. While Ryder has long disposed of its own vehicles, the scale of its operation makes it a different proposition to the customer. Where buyers might have sought traditional used truck outlets found through franchised networks and the independents, more operators are now looking to the

hire market to buy readymade solutions.

Nigel Martin agrees that Ryder has the scale and size to have a significant effect on the used truck market. He asks: "How many out

there can sell 250 multi-marque trucks a month?"

He says Ryder has evolved following the acquisition of Hill Hire from a £100m turnover to a £250m turnover business.

"We are now in a position to offer a broader customer base a much wider offering. What's different is that second-hand buyers historically did not go to the rental companies as their first port of call. We have developed a reputation and brand for being able to supply quality used vehicles that are competitively priced, which makes us desirable.

"Ryder's brand is up there because we want that repeat throughput of customers, we are taken more seriously as a first-to-go-to sales point for the [customer]," he says.

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