Bank Reports Big Increase in Loans for Trucking Equipment
In the first nine months of 2014 TAB Bank said has increased its trucking equipment lending by 56% compared to the same time in 2013.
One trucking equipment finance company reports a big surge in lending through the first three quarters of the year.
Utah-based TAB Bank said it provided $11.3 million in trucking equipment loans for 22 transportation companies during the third quarter of 2014. Based in different regions of the country, these companies represent a broad spectrum of trucking entities, including one-truck owner-operators and small and large fleets, according to company.
In the first nine months of 2014 TAB Bank said has increased its trucking equipment lending by 56% compared to the same time in 2013.
"Trailer sales and Class 8 truck sales continue to build momentum as we enter the final quarter of 2014. We see many reports that trucking equipment sales are seeing very high numbers as trucking companies nationwide replace their equipment and upgrade their fleets,” said Jan Allen Ackley, Chief Lending Officer for TAB Bank.
More Equipment
Atlas Expands Kodiak Driverless Truck Fleet in Permian Basin
Atlas Energy Solutions is expanding autonomous frac sand hauling in the Permian Basin with a second load-out location and plans for 100 driverless trucks by mid-2027.
Read More →
Putting Mack’s Command Steer to the Test
A test drive of Mack’s Command Steer active steering system evaluates how it can make truck driving easier and less tiring.
Read More →
Mack, Volvo Expand DEF Derate Software Updates
The updated software gives Mack and Volvo truck owners more time to address DEF-related issues before the engine derates or the vehicle goes into reduced-speed inducement, following new EPA guidance.
Read More →
Rush, MCT Team Up to Grow Refrigeration Service Network
The joint venture will operate MCT's network of Carrier Transicold dealerships and mobile service locations, with the companies promising greater service capacity and uptime for refrigerated fleets.
Read More →
Cummins Adjusts 2027 Engine Rollout After EPA Proposal
The engine maker will gradually introduce its new Model Year 2027 diesel engines while continuing to offer current models during the transition, citing the EPA's proposed emissions rule changes.
Read More →
Aurora Rolls Out Next Generation of Driverless Trucks for Commercial Freight
Aurora's latest autonomous trucks it's rolling out with International feature lower-cost hardware designed for a million miles as the company expands commercial driverless freight operations across the U.S. Sun Belt.
Read More →
Peterbilt 589 Spotlight: A Close Look at a Custom Working Truck [Video]
There's more to this customized Peterbilt Model 589 and Great Dane refrigerated trailer than chrome and stainless (although there's plenty of that too!) A veteran driver explains the design choices and practical features behind this working truck.
Read More →
Continental Expands Retread Lineup With New ContiTread HDL 5 EP
New long-haul drive retread is designed to improve fuel efficiency, extend tread life, and lower fleets' cost per mile.
Read More →
EPA Proposal Could Ease 2027 Truck Costs and Buying Uncertainty
The proposal doesn't change the tougher NOx standard, but it would revise key implementation requirements that manufacturers say have driven up costs and complicated fleet purchasing decisions.
Read More →
Cummins, Paccar Ease DEF Derates After EPA Guidance
Updated diesel engine software gives truck operators more time to address emissions-system issues while staying compliant with EPA emissions standards.
Read More →