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Value-added Services Gains Prominence in the Dynamic Class 8 Truck Leasing and Financing Market


News provided by

Frost & Sullivan

11 Dec, 2014, 12:45 GMT

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-- Frost & Sullivan expects the line between captive and non-captive firms to blur as preference for one-stop solution providers rises

MOUNTAIN VIEW, California, Dec. 11, 2014 /PRNewswire/ -- The increasing price of new trucks will likely not significantly impact the viability of the North American class 8 truck leasing and financing market.

Photo - http://photos.prnewswire.com/prnh/20141210/163715

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Rather, the market will witness the rise of new solutions, business models, and revenue streams as original equipment manufacturer (OEM) captives offer fleet management services and telematics-related value propositions to compete with non-captive firms. Services, parts sales and warranty contracts, in particular, will be revenue-generating services that offer immense scope for growth.

New analysis from Frost & Sullivan's Strategic Analysis of the North American Class 8 Truck Leasing and Financing Market finds financing is expected to remain the top choice among consumers despite losing some market share. It accounts for 64 percent of all new class 8 truck purchases. Leasing and cash purchases will account for 28 percent and 8 percent, respectively.

For complimentary access to more information on this research, please visit: http://bit.ly/1yABqE5

"While non-captives have historically been leaders in the leasing and financing market, the line between the two parties will blur as captive business strategies begin to mirror those of non-captives," said Frost & Sullivan Automotive and Transportation Senior Industry Analyst Wallace Lau. "This has resulted in unique service solutions being offered to consumers by both parties such as contract maintenance, extended warranties and fleet management services."

However, captives will have to remain cautious in their business strategies as the risk of truck defaults or another economic downturn could lead to the downfall of any OEM. In fact, the slow pace of economic recovery has forced companies to delay capital expenditures for trucks until more robust growth takes root.

As consumer confidence gradually returns, U.S. interest rates and, potentially annual percentage rates for trucks, could see a slight raise. Hence, captives and non-captives alike must deliver innovative packages to quell consumer concerns over payment options, access to credit, and service solutions.

"With fleets and owner-operators looking to streamline daily operations and improve overall efficiency and profitability, new opportunities have risen for OEM captives and non-captives to deliver customized, flexible services," revealed Lau. "Captives and non-captives must position themselves as complete, one-stop service solutions to attract and retain consumers in the North American market."

Strategic Analysis of the North American Class 8 Truck Leasing and Financing Market is part of the Automotive & Transportation (http://www.automotive.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Light, Medium & Heavy Truck and Bus Sales in Select ASEAN Markets, OEM Powertrain Strategies for CAFE Compliance in North America Towards 2020, Global City Truck Market, and Vehicle Relationship Management Market in Europe and North America. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.

About Frost & Sullivan

Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.

Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.

  • The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
  • The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.

For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?

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Strategic Analysis of the North American Class 8 Truck Leasing and Financing Market

NE0E-18

Contact:
Jennifer Carson
Corporate Communications – North America
P: +1.210.247.2450
E: Jennifer.Carson@frost.com

http://www.frost.com

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