Anyone who knows trucking knows an awful lot of the trucks running around this big country are not owned by the company whose name is stenciled on the truck’s door or emblazoned, logo and all, along the side.
Still, it may surprise you (as it did me) to know that members of TRALA (Truck Renting and Leasing Association) own one of every four Class 2-8 commercial trucks now on the road.
That’s per a new survey of all members of TRALA, which includes more than 500 companies that account for the vast majority of truck renting and leasing operations in the U.S.
TRALA worked with ACT Research to compile the aggregate totals to illustrate the size and scope of the U.S. truck renting and leasing industry.
The association states that the results “demonstrate the importance and impact that the industry as a whole has on the overall economy.”
Here are some key stats that the membership survey turned up:
- TRALA member share of all Class 2-7 trucks on the road today is 22-24%
- TRALA member share of all Class 8 tractors on the road today is 25-28%
- Number of Class 2-7 trucks in TRALA-member fleets total 347,181
- Number of Class 8 tractors in TRALA-member fleets total 189,285
- Of the Class 2-7 truck population, the approximate percent of primary use was: 46% consumer rental; 30% commercial lease; 22% commercial rental
- Of the Class 8 tractor population, the approximate percent of primary use was: 69% commercial lease; 25% commercial rental
- TRALA members in 2014 purchased the following number of vehicles: 80,899 Class 2-7 trucks or 22% of all retail sales; 42,423 Class 8 tractors or 25% of all retail sales
- Annual “dry” rental and lease revenue for TRALA members totaled $13.91 billion
- Total TRALA-member employees equaled 57,501
- Total number of locations equaled 27,542
- TRALA members serve more than 37,000 commercial lease and rental customers
- Total consumer rental customers were approximately 15,879,000
TRALA plans to periodically update the data by conducting similar surveys every two to three years. The association will also attempt to track the number of Class 2-7 trucks and Class 8 tractors its members purchase “every year going forward to ensure that truck leasing and renting trends are kept up-to-date to help TRALA better serve the industry.”
"With our members owning a quarter of all Class 2 through 8 commercial trucks on our highways today, we are a vital part of the U.S. economy,” notes TRALA President and CEO Jake Jacoby. “We have seen significant growth in our industry over the past decade as more and more companies look to renting or leasing as a way to free up capital and outsource the maintenance of these highly advanced vehicles to the trucking experts.”