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Strategic Analysis of the North American Class 8 Truck Leasing and Financing Market : Financing to Remain the Top Consumer Payment Preference

  • November 2014
  • 70 pages
  • Frost & Sullivan
Report ID: 2470302

Summary

Table of Contents

Key Findings

The non-captive channel will remain the choice of consumers despite losing some market share over the forecast period—accounting for x% of the market by 2020. OEM captive financing is gaining traction, with an expectedx% market share gain from 2013 to 2020.
In 2013, x% of consumers financed their trucks, and x% paid cash. Leasing accounted for x% of the market. Both cash purchases and leasing are expected to gain x% market shares by 2020.
Changing consumer behavior is not expected to affect their preference in payment options over the forecast period. Leasing has made strides to offer added benefits, but financing and owning a truck outright as an asset is a crucial factor in the trucking industry. By 2020, consumers are expected to demand value services to improve productivity.
An equipment replacement cycle is expected in 2014 and 2015, with total class 8 production estimated at xin 2014 and x in 2015. The replacement cycle does not signify fleet expansion, however.
Customized fulfillment solutions and flexible service options such as maintenance services, fleet management, contract maintenance, and mobility solutions are expected to be key OEM captive value propositions to handle the fundamental change in consumer behavior throughout the forecast period.

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