Rush Enterprises Q2 Class 8 Truck Sales up 74%



Rush Enterprises, which operates the largest network of commercial vehicle dealerships in North America, announced Q2/14 net income was $19.8 million compared with net income of $5.6 million in Q2/13.

In the second quarter Rush’s Class 8 retail sales, which accounted for 6.5% of the U.S. market, increased by 74% over the same time period in 2013. Rush’s Class 4-7 medium-duty sales, which accounted for 5.7% of the total U.S. market, increased 49% over the second quarter of 2013.

“During March we began to see the positive impact of a steady economy and improvements in freight movement in our Class 8 truck sales, and this trend continued throughout the second quarter. In particular, sales of our new Class 8 stock trucks significantly increased as independent operators and smaller vocational fleets required work-ready equipment to take advantage of increased activity in energy, construction and refuse segments. Some larger fleets also replaced aged vehicles to reduce maintenance expenses, but fleet expansion remains tempered by the driver shortage and high cost of equipment,” said W.M. “Rusty” Rush, chairman and CEO.

“Our Class 4-7 truck sales also significantly outpaced the U. S. retail market. With continued improvement in housing and road construction, our large inventory of Class 4-7 trucks at locations across the country allowed us to provide fast delivery of ready-to-roll equipment to vocational end users, particularly important as lead times from truck manufacturers continue to lengthen. We continue to see sales of trucks across our entire breadth of manufacturers, which includes Peterbilt, International, Hino, Isuzu and Ford. Truck sales to food and beverage fleets and sales of both IC Bus school buses in Ohio and Blue Bird school buses in Texas also contributed to Class 4-7 truck sales this quarter,” Rush added.

ACT Research increased its forecast of U. S. Class 8 retail sales to 226,900 units in 2014, up 21% over 2013 and forecasts U. S. Class 4-7 retail sales to be at 196,500 units in 2014, up 9% over last year. “We expect the growth in the economy and improvements in freight movement will continue to have a positive impact on both Class 8 and Class 4-7 new truck sales in the third quarter,” said Rush.

To view the full Rush Enterprises news release, click here.


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