Used truck sales

Rush Enterprises plans 3:2 stock split following strong Q2

Rush Enterprises, the nation’s largest network of new truck dealerships, will execute a 3:2 split on Class A and B shares after a strong second quarter led by its parts and service business.

The split means shareholders will receive an additional one-half share for each common share held as of Aug. 7.  

Rush reported $2 billion in revenue and net income of $98.3 million, or $1.75 per diluted share. That compares with revenues of $1.8 billion and net income of $110.2 million, or $1.92, in the...

https://www.freightwaves.com/news/rush-enterprises-plans-32-stock-split-following-strong-q2

Ryder’s strong quarter boosted by used truck, tractor sales

Strong used truck sales numbers at Ryder helped boost the compahy's profitability in the first quarter.

Ryder had a first quarter that blew away all consensus expectations.

But for the broader trucking market as a whole, the company, which is a leading source of used vehicles, is running out of things to sell. 

The company’s non-GAAP earnings per share of $3.59 exceeded consensus by $1.21. The revenue of just under $3 billion was up 30.6% compared to the first quarter of 2021, and it topped the consensus forecast by $330 million. 

Even with a softer trucking market, Ryder’s forecasts were all...

https://www.freightwaves.com/news/ryders-strong-quarter-boosted-by-used-truck-tractor-sales

Q4 sales helped dealership giant Rush Enterprises limit 2020 declines

Rush Enterprises (NASDAQ: RUSHA) reported lower new and used truck sales in 2020 because of COVID-19. But Class 8 business improved in the fourth quarter as freight demand brought a surge in equipment orders.

The nation’s largest chain of dealerships sold 10,670 new Class 8 trucks at retail, a decrease of 28.8% compared to 2019. It accounted for 5.5% of the new U.S. Class 8 market. Industrywide, Class 8 retail sales were down 30.5%, according to ACT Research. 

“Our Class 8 new truck sales results...

https://www.freightwaves.com/news/q4-sales-helped-dealership-giant-rush-enterprises-limit-2020-declines

Used truck values and demand on the rise

The rebound in Class 8 used truck sales continued in August. Prices and sales rose with fleets desiring newer trucks with better fuel economy and safety equipment.

J.D. Power Valuation Services reported a third consecutive month of improving retail sales in August.

“Since mid-June, we’ve seen an increase in selling prices for the lowest-mileage iron,” said Chris Visser, J.D. Power Valuation Services commercial vehicles senior analyst and product manager.

Power said the average sleeper tractor sold...

https://s29755.pcdn.co/news/used-truck-values-and-demand-on-the-rise