Fleet Advantage Sells More Than $10MM in Off-Lease Used Trucks in Fiscal Q1/20

Fleet Advantage has been active in the sales of off-lease used trucks this year, with total units sold exceeding 400 units and sales in excess of $10 million in its fiscal first quarter ending Sept. 30, 2020.

There has been more buying and selling activity of new and used heavy-duty trucks since the COVID-19 pandemic. According to the latest report from ACT Research, “unforeseen robustness of the perfect storm of positives into late spring and summer, following the initial shock of COVID-19 shutdowns and other mitigation efforts, has resulted in sharp upgrades in commercial vehicle expectations since May.”

Amplifying this further, more companies are looking to replace aging trucks earlier in their life cycle to realize greater cost savings, newer equipment offers in reduced fuel, improved maintenance and safety expenses, as well as lower emissions output.

To help its clients with the sale of used off-lease trucks, earlier this year Fleet Advantage hired Francis Maloney as remarketing sales manager. In September, Fleet Advantage sold 229 off-lease used trucks for more than $6.2 million in revenue.

“We continue to work with our clients as we have a large backlog of committed transactions in October with robust demand in the coming months,” Maloney said. “As more demand for the shipment of goods requires additional truck transportation, we expect the market for off-lease used trucks to remain strong for the foreseeable future.”

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