Rush Enterprises, which operates the largest network of commercial vehicle dealerships in North America, announced Q3/14 net income was $23.5 million, compared with net income of $15.2 million in Q3/13.

In the third quarter Rush’s Class 8 retail sales accounted for a record 7.4% of the U.S. market and increased by 68% over the same time period in 2013. Rush’s Class 4-7 medium-duty sales, which accounted for 4.8% of the total U.S. market, 7% over the third quarter of 2013.

“The positive trend in our new Class 8 truck sales that began in spring continued throughout the third quarter. Large fleets continued to replace aged vehicles to improve uptime, capitalize on gains in fuel efficiency, and appeal to a wider pool of potential drivers. Stock truck sales also rose as demand from small- and mid-size fleets operating in vocational segments continued. We also saw significant mixer equipment order intake and deliveries this quarter to support construction,” said W.M. “Rusty” Rush, chairman, CEO and president of Rush Enterprises.

“Our third quarter Class 4-7 truck sales accounted for the second largest quarterly sales volume in the company’s history. We believe this was a direct result of our investment in a large inventory of ready-to-roll equipment, which allows us to meet the immediate demands of vocational customers, particularly those in construction, and will continue to differentiate us as lead times from medium-duty truck manufacturers lengthen,” Rush said.

ACT Research increased its forecast of U. S. Class 8 retail sales to 227,100 units in 2014, up 21% over 2013 and forecasts U. S. Class 4-7 retail sales to be at 196,300 units in 2014, up 9% over last year.
“We expect demand for Class 8 trucks will remain strong as fleets continue to upgrade to new equipment, but expect fleet expansion will be moderated by the continued shortage of drivers. We also expect Class 4-7 new truck sales to remain strong,” Rush said.

To view the full Rush Enterprises release, click here.