Minimizing downtime, calculated production and overcoming labor shortages are imperative to the trucking industry’s continued recovery.
The industry made headway in 2024 following a yearslong recession driven by stabilized prices, economic improvements and dealers chipping away at excess inventory. Reflecting recent improvements, used Class 8 retail sales surged 56% year over year and 16% month over month in January, according to ACT Research.
Some truck lenders have taken a “full throttle” approach into 2025 as fleet owners target substantial growth in an expected pro-business environment under President Donald Trump.
To keep the recovery progressing, fast service and repairs at dealerships are key, Jim Murray, client development manager at fleet management service provider Merchants Fleet, told Equipment Finance News. This will keep freight moving, thus generating revenue for fleet companies, he said.
“The biggest point that we talk to clients about is downtime, because our clients typically have an employee in a vehicle that needs to install something, service something, sell something. And if that vehicle is down or that employee can’t go to work, that’s a big problem because they’re not generating revenue.”
— Jim Murray, Merchants Fleet
OEMs and dealers can help mitigate downtime by making sure parts are readily available and having “the right technician at the right time,” Fernando Mahaluf, senior manager of aftersales at Fontana, Calif.-based manufacturer ZM Trucks, told EFN.
“I think that will build the long-term trust that the client needs to have their vehicles on the road,” he said. “And with that, they can believe in the product and then buy the second, the third, the fourth, the fifth truck.”
Navigating economic challenges
A labor shortage is one obstacle facing both fleet companies and dealers. The trucking industry has a shortage of about 80,000 drivers and 41,000 technicians, according to the American Trucking Associations lobbying organization.
OEMs and service providers are focusing on speed and efficiency to overcome this challenge, Ismael Daneluz, vice president of sales and service for North America at work truck and equipment manufacturer Palfinger, told EFN.
“Our fleet of 100-plus mobile service units and technicians provide onsite support, and we are investing in strategically located spare parts distribution centers across North America for faster access to our critical components,” he said. “We also provide flexible financing options to give businesses on-demand access to our premium solutions.”
Moreover, the trucking industry may have to work through economic and political uncertainty for an extended period of time, taking into account the potential impact of tariffs and other policy changes under Trump.
As economic shifts occur, OEMs must adjust their production strategies accordingly, Dave Sowers, director of operations at Ram Professional, told EFN.
“We certainly have to watch the greater economy because that dictates our forecasts and our production schedules and many of the ways that we go to market,” he said. “It’s really about executing the things that support our customers.”
The third annual Equipment Finance Connect at the JW Marriott Nashville on May 14-15, 2025, is the only event for both equipment dealers and finance providers. Learn more and register here.
