Trucking repossessions dropped by 44 percent in third quarter, after steadily rising over the past year and a half.
"After two very difficult quarters to start the year, there have been some scattered signs of improvement in the general economy and in some of the most battered verticals of the equipment leasing sector," said Ed Castagna, president of Nassau Asset Management. "These numbers obviously offer a mixed message and it appears that the economy is showing some signs of life but many sectors have yet to take part in that growth."
"We recommend to anyone who is in the process of liquidating or remarketing assets that they be quick and smart in their decisions," Castagna said. "Equipment values in this market are changing daily. Sellers must be conscious of the current actual liquidation value of their equipment, and be ready and able to take the best offer given to them in full confidence."
According to Nassau, the truck sector may have stabilized, and much of the excess of equipment has been drained from the market. The company says the hysteria of the past few quarters in this sector may have seen an end. The decline in truck repossession is likely due in part to the limited production of new vehicles.
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