Specialty financing and fleet management firm Fleet Advantage exceeded $1 billion in syndicated lease volume in the last 12 months as of today.
The growth comes despite elevated interest rates, reduced freight volumes on the supply chain, and increased operating costs for fleet managers due to rising insurance premiums and higher fuel prices, according to Fleet Advantage.
Fleet managers are still having trouble locating affordably priced inventory, Chief Executive Brian Holland said in a statement today. Ford Motor Co. Chief Executive Jim Farley also noted in the OEM’s Feb. 6 earnings call that commercial vehicle supply was not keeping up with demand.
The Fort Lauderdale, Fla.-based Fleet Advantage delivered more than 5,500 units in the past year, according to a company release. In 2023, the company added 15% more employees, bringing its total headcount to 46.
Registration is now available for Equipment Finance Connect. The dealer-centric equipment lending and leasing event of the year offers opportunities for dealers to learn new strategies, foster valuable partnerships and emerge with ideas to immediately apply to their businesses. Learn about free dealer registration at EquipmentFinanceConnect.com.