About 15 months ago, on the company’s second-quarter 2020 earning call, Ryder System CEO Robert Sanchez gave some stark numbers about the collapse of the used truck market in the first months of the pandemic.
As a result of the downturn in the market, Ryder (NYSE: R) was looking at inventories for the sale of trucks and other vehicles of about 14,000. Its target inventory was 7,000 to 9,000. The 14,000 figure contrasted sharply with the 8,300 in inventory a year earlier, at the close of 2019’s...
https://www.freightwaves.com/news/used-truck-prices-high-but-ryders-inventory-low