The Pete Store expands truck dealership ops as market improves
Upgrades to 2028 trucks could cut fuel costs by 16%
Peterbilt dealer The Pete Store’s recent acquisition of G.L. Sayre expanded its truck dealership operations along the East Coast as improving conditions in the commercial truck market, growing fleet demand and upcoming emissions regulations drive optimism across the heavy-duty trucking industry.
The acquisition of G.L. Sayre, a 92-year-old family-owned Peterbilt dealership with locations in Delaware and suburban Philadelphia, expands The Pete Store’s network to 33 locations across the Eastern United States, according to a May 1 company release.
The move strengthens the company’s footprint along the Interstate 95 corridor, one of the nation’s busiest freight and trucking routes connecting major East Coast logistics markets, Jeff Arscott, president of The Pete Store, told Equipment Finance News.
“These types of businesses just do not come along available for trade very often,” he said. “At this point, this is like a once-in-a-century opportunity.”
The commercial truck dealership group continues to expand in contiguous markets to support trucking fleets operating across multiple regions, including Florida, Georgia, Maryland and Virginia, Arscott said.
“Customers are pretty consistent,” he said. “They need their trucks on the road and running and making money.”
For example, the Philadelphia truck market presents clear growth opportunities for PACCAR’s Peterbilt subsidiary in the vocational and medium-duty truck segments. These include construction and refuse trucks, warehouse fleets and local delivery operations, Arscott said.
“Peterbilt’s got a very broad product line and we can play in a lot of different markets, so you don’t think about [Philadelphia] as the long-haul, over-the-road market that we see in the … more rural parts of the world, but people produce needs for trucks,” he said. “Local [pick-up and delivery], warehousing, refuse, construction, and housing all need trucks, and that’s a market where Peterbilt is very strong.”
2027 fleet prebuy signals opportunity
The Pete Store’s expansion comes as fleets and dealers prepare for 2027 emissions regulations, which are expected to increase new truck prices and potentially trigger another wave of Class 8 truck prebuy activity.
“It looks like next year’s trucks are going to cost a lot more,” Arscott said. “Whenever we have new emissions, there’s opportunity.”
Operating costs are also pushing fleet companies to evaluate equipment replacement cycles more closely. Fleets that replace 2022 model-year sleeper trucks with 2028 model-year equipment could save up to $12,845 per truck annually through improved fuel efficiency and lower maintenance costs, according to Fleet Advantage’s Truck Life Cycle Data Index released on April 27.
In fact, fleets could reduce fuel expenses by 16% by upgrading to newer Class 8 trucks with diesel prices averaging nearly $5.50 per gallon nationally, according to the release.
Despite tighter lending conditions in the commercial truck finance market, Arscott said customer sentiment has improved entering the second half of the year.
“The finance business has tightened,” he said, as “players … have shrunk or gone away or exited.”
Still, The Pete Store expects commercial truck sales to increase in the newly acquired markets, Arscott said.
“We’re talking to a lot of customers that are feeling good,” he said. “If we get lower interest rates and wrap up a war, we’re going to be sprinting across the finish line into 2027.”
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