Partnerships key ahead of potential 2026 truck market recovery

Partnerships among dealers, lenders, manufacturers and freight companies are playing a vital role in the industry’s success at the end of a difficult year for the trucking industry. 

Freight carriers are shifting their focus from growth to efficiency, utilization and liquidity, while only a gradual rebalancing and a meaningful freight and rate recovery won’t come until the second half of next year, according to ACT Research’s 2026 outlook, released Nov. 21. 

Equipment dealers, lenders and manufacturers must do their part to ensure their carrier partners stay afloat during these shifts, Mark Udy, fleet manager at The Pete Store, told Equipment Finance News. 

“The dealership is not going to make the deal if they can’t get that partnership with the customer or work with the finance department, so we all have to work together and try to come to the middle ground,” he said. “It’s not just at the forefront of the purchase; it’s throughout the life cycle of the vehicle.” 

Partnerships are even more important amid increased freight bankruptcies and lenders exiting the market. The softened market — due to the broader down cycle and increased leasing challenges — provides lenders the opportunity to showcase their strength as partners, Kevin Murphy, president of 1st Source Bank, told EFN. 

“Because we have large reserves and solid capital, it gives us the ability to work with our clients and partner with them to work out the challenges,” he said. “This is something we experience, and we’re well-equipped to continue to work and partner with our clients through those headwinds when they experience it.” 

Long-term commitment 

Partnerships between dealers, lenders and trucking companies can often be some of the longest commitments in the financing space, even rivaling mortgages at times. 

The average 30-year mortgage effectively lasts only seven years before it is refinanced, while trucks usually turn over every five to six years, so there are often times when the freight company owners are more committed to the truck dealers and lenders than their homes and offices, Jim Ledsome, general manager of The Pete Store’s Mid-Atlantic region, told EFN. 

“When we sell them, we’ve got [the customer] for 10 years, so we’ve got to be there for them as their partner,” he said. “We like to think our trucks will last 10 to 15 years at least before people would have to sell them, so you’re in for a while.” 

Over the last six months, DLL formed a joint venture with transportation OEM Iveco Group and lenders North Mill Equipment Finance and Oaktree Capital formed a joint venture to provide fair market value leases to companies, including logistics companies. Meanwhile, Hyundai Capital America, Ford and GM continue to expand their dealer support, and lender AP Equipment Financing and OEM and captive Daimler are placing increased emphasis on partnerships. 

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