Rush Enterprises Reports Record Revenues, Truck Sales
FEB 11, 2015 - 6:52 am
Rush Enterprises reported record annual revenues of $4.7 billion, up 39.7% compared to $3.4 billion in 2013. Net income of $80.0 million was up 62.6% compared to net income of $49.2 million for the year earlier period.
In 2014, Rush said its Class 8 retail sales accounted for 7.1% of the total U.S. Class 8 market. The company sold 15,833 Class 8 trucks, an increase of 66% compared to 2013, significantly outpacing the U.S. market, which increased only 19.4%.
Rush’s U.S. Class 4-7 medium-duty truck sales reached 9,922 units in 2014, up 17.5% over 2013, and accounted for 4.9% of the total U.S. Class 4-7 market.
“In 2014, we set out to ‘integrate and execute’ across our Rush Truck Centers dealership network, particularly in the areas of asset management, process standardization and customer service consistency,” said W. M. “Rusty” Rush, chairman, chief executive officer and president of Rush Enterprises. “Our execution led to record-setting performance including annual revenues, net income, Class 4-8 new and used truck sales, aftermarket revenues, lease and rental revenues and absorption ratio. In addition, we expanded our Rush Truck Centers network to 112 locations in 20 states. We are also nearing completion of our business system rollout and continue to implement solutions that drive efficiencies and help keep our customers up and running,” said Rush.
“Class 8 truck sales climbed during the fourth quarter, a trend that began from last spring. Large fleets continued replacing aged vehicles to upgrade equipment to more cost-efficient technology and appeal to a wider range of drivers. Stock truck sales also continued to improve as smaller fleets and vocational operators took advantage of increased activity in construction and other market segments across the country,” Rush continued.
To view the full Rush Enterprises news release, click here.
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