Ryder System will begin offering 10-year full-service leases to beverage fleets to meet that industry's need for a longer lease term with trucks that accumulate less annual mileage, the company has announced.
Ryder introduced the longer term after listening to feedback from its Food & Beverage Customer Advisory Board. The company has been offering lease terms of five or seven years.
"The board, which brings together an exclusive group of thought leaders from a cross-section of the sector, provides us with invaluable feedback," said Dennis Cooke, Ryder's president of global fleet management solutions. "Their thoughts and contributions enable us to address the future needs of the food and beverage industry."
With a long-term full-service lease, Ryder acquires vehicles according to the customer’s specifications and provides financing, maintenance, and fleet support services. Ryder also manages vehicle disposal.
A 2013 Beverage World survey showed that beverage fleets run fewer miles than the industry average, with 75% of route delivery fleets running less than 40,000 miles a year. Beverage companies follow a longer fleet lifecycle as a result, with 49% of beverage vehicles being five to nine years old and 47 percent being 10 or more years old.
"These statistics support the need for greater flexibility among beverage industry fleets," Cooke added.