April 7, 2021
1 min read

2021 the Spring Bounceback Market Guide

The past year has been a year unlike any other.  In 2020, businesses had to pivot to keep running, especially when it came to their fleets. Essential businesses were seeing unprecedented demand for their goods and services and needed extra capacity to deliver. Other companies had their vehicles sit idle for months and needed to find a solution to improve utilization. And now in 2021, things are changing again. So what does that mean for transportation and returning to pre-pandemic operations?

The first leap forward will be this Spring of 2021. With the season, COOP is anticipating an increase in rental vehicle demand that presents an opportunity for businesses like yours. Adapt to your businesses’ changing transportation needs using our insight into Spring trends. We foresee the next few months being particularly active this year due to COVID-19 pandemic recovery efforts. Our platform is a perfect fit for when fleet flexibility is a priority.

Read on for our Spring 2021 guide to review the changes 2020 had across multiple industries, explore the rental demand trends that we foresee for Spring 2021, and learn how your business can take advantage of the high-demand this season.

How the COVID Pandemic Changed Rental Demand

Last year challenged the transportation industry and made businesses reevaluate their fleet capacity needs. To get an idea how businesses adapted and solved their problems in 2020, we looked beyond the rental trends:

  • Many businesses slowed their operations. Across multiple industries, such as live event and restaurant companies, COVID-19 restrictions forced many to save their capital and wait for the right opportunity.
  • Fleet flexibility became more important than ever. With the uncertainty of the market, companies delayed expanding their fleet through purchase or lease and rented commercial vehicles instead. Essential businesses needed commercial vehicle rentals to meet sudden capacity limitations.
  • Final-mile deliveries increased drastically. Consumers began to order more goods online rather than in-store. This shook up transportation chains for restaurants, groceries, essential goods, clothing, and more. 

We anticipate some of these trends will continue to stick around even after things return to normal. This season will see businesses rapidly become fully operational, while both commercial vehicle Renters and Owners can leverage the COOP platform to grow during the bounceback.

Prepare for the Economic Bounceback in Spring

So what’s in store for the rest of 2021? Changes like the vaccine rollout, distribution of stimulus checks, and an anticipated travel rebound will play a key role in business returning back to normal. In response to all this, businesses are hiring at record rates and transportation chains across industries are getting reestablished in Spring.

Direct effects of the pandemic response have been felt across industries as consumer confidence rises. Receiving the second set of stimulus checks encouraged many companies to get their operations up to speed, with the expectation that consumers will start to spend more on goods and services. Also the widespread roll out of the vaccines is allowing people to get back into the workplace and move more freely. People are eagerly planning trips away from home which will jumpstart demand from the Tourism industry and the adjacent Business & Personal Services Industry. 

Another unique circumstance that will affect the commercial fleets this year is the microchip shortage that is delaying the production of several vehicle types. These microchips power everything from windows to semiconductors and without them the output of major truck manufacturers like Daimler has slowed. Since power vehicles will still be needed despite orders being pushed back, we anticipate a drive toward the rental market. Ownership of trucks, especially newer ones, will prove to be high-demand commodities in the Spring under the growing backlog of truck production.

Spring typically sees the most rental demand outside of  the Q4 holiday season. This year, a return to pre-pandemic trends plus the return to normal business operations suggest a peak in this rental demand. Take note of the rental trends in the years leading up to 2021 and what that could mean for Spring 2021’s rental demands.

Top Anticipated Vehicle Picks for COOP Renters in Spring

In Q2 certain vehicles are rented more than others historically. Outside of the significant change of the pandemic, rental demand changes month-to-month based on many factors that span industries and location. 

In previous years, medium- and heavy-duty vehicles like trailers and sleeper tractors have made up most of the vehicle rental demand in the Spring. April and May are strong rental demand months for tractors and trailers respectively. Dry trailers and flatbed trailers, driven in-part by the construction industry preparing for infrastructure improvements and housing projects, are great for securing long-term revenue as they average over 22 rental days per transaction. Additionally, refrigerated trailers and reefer trucks make up nearly 1/5th of the share of total rental days in Spring. 

The growth of final-mile vehicle demand will continue through 2021 alongside the rising popularity of consumer packaged goods delivery. Dry trucks that do well to maneuver city streets such as box trucks and cargo sprinter vans will see increased rental demand. 

Request or rent out vehicles in these high-demand specs with COOP soon, as businesses are competitive about looking to secure long-term rentals to keep the vehicles throughout the summer. 

What Your Business Can Do to Take Advantage of the Spring Bounceback

As the economy overcomes the challenges of last year, make sure your business is prepared. Keep the wheels moving and look to leverage COOP as a tool to help positively impact your bottom line.

Rent with COOP to Meet Springtime Business Demand 

If you need extra fleet capacity to meet demand, find and reserve the vehicles as early as possible. With COOP, it’s easy to find vehicles where you need them - filter the results easily from the hundreds of vehicles available and rates on vehicles that work for your business. Many businesses will experience spikes in demand that will reflect on the marketplace when renting last-minute, so reserve from a trusted business near you as soon as you can. 

List with COOP to Generate Maximum Springtime Revenue 

If you have commercial vehicles that are sitting idle, make them available on COOP.  During this busy time, vehicles can easily be out on the road for months generating revenue for your business. Follow our Owner Best Practices to take full advantage of this season and get the best possible impact on your bottom line, for example:  

  • If you know your vehicles will be sitting, make them available on COOP. Keep your fleet’s availability up to date regularly during this busy season. Idle box trucks, straight trucks, and even sprinter vans can see a lot more activity due to the increased final mile demand within your business network.  
  • Be open to long-term rentals. With businesses rebuilding their transportation chains this Spring, the COOP platform is a great tool to get market penetration with your vehicles. Long-term transactions today can create business relationships that bring repeated transactions throughout the year. 
  • If your business can afford to, buy a commercial vehicle such as a trailer. The transportation rental market will see a lot of activity in the coming year, many vehicle owners on COOP have purchased vehicles to list on the platform and have offset lease payments just by renting out the asset.

The combination of a changing transportation industry landscape, the growing coast-to-coast reach of the COOP platform, and the eagerness of businesses to normalize operations will make Spring one of the biggest opportunities of the year for COOP users. Get started using the platform to give your business fleet flexibility and take advantage of this exciting time.

Note Regarding Forward-Looking Statements: Certain statements and information included in this Market Guide are “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions. Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission. New risks emerge from time to time. It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business. Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Catch Up on the Latest With COOP

Commercial Vehicle Rental Market Guide: Third Quarter 2023

From growth in the food industry’s demand for freight, interest rates remaining high for the time being, fluctuating truckload rates, and other trends, the summer sees activity heat up, and it’s essential to be aware of these key topics. 

 This blog covers various commercial vehicle rental developments and historical stats you need to know, including whether we can expect an uptick in demand in Q3. To manage your fleet needs effectively, tools like the COOP by Ryder platform help businesses gain the flexibility to optimize fleet use. Read our complete guide for more data and insights to help your business make informed decisions about the transportation market in the third quarter and beyond.

At a Glance: Q3 Trends & Insights

  • Slowdown in Grocery Inflation –  Grocery inflation is slowing down this summer, meaning lower costs when filling up your cart. This is good news for the transportation industry. Filling grocery loads in the coming months will be vital. Expect to see a skyrocketing demand for refrigerated vehicles.
  • The State of Interest Rates – Interest rates are expected to remain steady in early summer, but keep an eye out for increases as the year goes on. If interest rates climb again, there will be inflationary pressures which may increase fuel, maintenance, and labor costs for vehicles.
  • Reduced Truckload Volumes – In May, several carriers reported a decrease of about 11% in truckload volumes. While experts predict it may not go up as high as last year’s level, the demand across the food, leisure, and entertainment industry is accelerating.

Download our complete guide to read more about these topics and for additional market insights.

Historical Industry Rental Trends for Q3

Based on historical rental trends over the last few years, we expect the Food & Beverage to see very strong activity. Additionally, moving companies have plenty of activity with local and cross-country moves until summer’s end.

As the holiday rush of Q4 approaches, keep in mind that many businesses will look to secure additional fleet capacity to move inventory toward the end of this season. 

Popular Vehicle Types in Q3

  • Refrigerated Trailers
  • Dry Van Trailers
  • Tandem Sleeper Tractors

Solutions to Optimize Fleet Utilization

  • Drop and Hook Freight
  • Telematics 
  • Trailer Repositioning

Take a deeper dive into these solutions and how they could help your business. Get the Q3 Rental Guide.

How COOP Can Help with Rentals

Having the right amount of vehicles for your business can take time and effort during the summer months. COOP helps Renters source equipment by finding available commercial vehicles from other trusted companies on the platform.

  • Our Smart Rate tool allows businesses to offer competitive rates.
  • Find and reserve vehicles with a wide variety of unique specifications usually not available at rental counters.
  • More options and flexibility to access vehicles nationwide.

How COOP Helps Your Business Earn Revenue

Whether you have a large or small fleet, listing idle vehicles on the COOP platform can improve utilization, cover transportation costs, and increase your bottom line in Q3.

  • Reduce vehicle downtime and optimize fleet use.
  • Rent out vehicles for extended periods by offering long-term discounts.
  • Profit from last-minute rental requests by keeping your fleet flexible and availability up-to-date.

Join the Leading Commercial Vehicle Sharing Platform

Start your journey and sign up for COOP. With the assistance of our team of professionals and cutting-edge technology, you'll have access to an innovative platform with tools that businesses across the country are using to create extra revenue or increase their fleet capacity.

To learn more about the market conditions this summer and gain additional knowledge and statistics, get the comprehensive Q3 2023 Commercial Vehicle Rental Market Guide today!

New Feature: Renter Dashboard

Managing commercial vehicle rentals efficiently is vital for businesses. That's why we've developed a user-friendly dashboard to get rental information quickly and help streamline your experience. Whether you're a frequent Renter or just getting started, our Renter Dashboard is designed to give you greater control and visibility over your rental activity on COOP.

What Can You Do on the Renter Dashboard?

  • Easily Track Rental Activity: Gain insights into your rental history at a glance. Including the number of active, upcoming, and pending reservations.
  • Take Quick Action for Reservations: Manage transactions that require the completion of the pick up and drop off process or are pending payment.

  • Access Billing Statements: Access and download your billing statements for accurate record-keeping and expense tracking.

How to Download Billing Statements

If you’ve had rental transactions on the COOP platform, you can see and download  your statements with just a few clicks. Here’s how:

1. Click the Get Statements button from your Renter Dashboard.

2. Your renter statement overview will open displaying your summary of charges.

3. Filter the statement(s) you need by reservation or date range.

4. To download the page as a PDF, right click anywhere in the top portion of the page. To download the page as a csv file, right click the reservation and select “Export”.

Empower Your Business with COOP

At COOP, we're dedicated to helping businesses succeed by streamlining logistics and transportation needs with our technology-driven commercial vehicle rental and solutions platform. This new Renter Dashboard feature is another valuable tool to helps Renters on their journey to success. Stay tuned for more features coming soon!

Ready to get started? Apply for an account today!

Have an account? Check out your Renter Dashboard.

New Feature: Request to Rent Multiple Vehicles

Looking to rent commercial vehicles in bulk and unlock the possibilities for your fleet needs? We're thrilled to bring you a new, significant feature designed for businesses that are looking for multiple rentals at once. You can now request multiple vehicles on the platform when searching for them.

How It Works

To use this new feature and request to rent multiple vehicles of a certain type, click here. With a few clicks and a little bit of info, you're on your way to getting the vehicles you need. You’ll be able to customize your requests based on vehicle type, price point, specifications, rental periods, and more, all in one go. Once you submit a request, our team will connect with you to set up the reservations.

Watch this video clip to see how it works:

Your Fleet Optimization Solution

Finding extra capacity and optimizing fleet use shouldn't be a middle-of-the-road experience, and with COOP, it's anything but. We understand that seasonal demands, special events, excess inventory, and many more impact the need for finding several vehicles right where you need to pick up and haul your loads. 

Continuing Excellence with COOP

At COOP, we take pride in providing reliable service and innovative solutions for your commercial vehicle rental needs. The introduction of the Multi-Vehicle Request feature is just one more way we're committed to elevating your experience with us. Start renting today and discover how to enhance your approach to bulk rentals and empower your business for success. Stay tuned as we share more new features in the coming weeks and months!

Moving Season

The busy moving season is here! Many individuals, families, and businesses choose this time to relocate due to favorable weather conditions, school breaks, and the availability of free time. Whether your company is in the moving industry or not, this time of year presents a significant opportunity to expand your customer base, maximize fleet utilization, and find ways to generate higher revenue. 

On the COOP by Ryder commercial vehicle sharing platform, companies can build relationships by connecting with a community that provides access to rent or list vehicles all at their fingertips. In this blog, we’ll cover some trending stats, tips for planning, and more. For an in-depth look at some moving industry insights and tools to effectively manage fleet demand, read our complete guide.

3 Interesting Facts About the Moving Industry

Here are a few stats that show the direct connection between transportation and the moving industry.*

Read our guide for more facts about the moving industry.

The Importance of Careful Planning 

Preparation is key to ensuring a successful peak season. Even if your business is not in the moving industry but has commercial vehicles sitting on a lot somewhere, exploring plans for maximizing fleet utilization can lead to practical solutions that can move the needle and increase profits. Here are 3 tips on what you can do to remain competitive:

·  Embrace flexibility 

·  Keep up with new tools 

·  Adapt to the market's needs 

Using the COOP platform provides helpful resources and options to plan accordingly and keep your business moving. 

Most Used Vehicles for Moving

Depending on the size of the job, a wide range of vehicles are needed to have sufficient space and capabilities to transport belongings. The following are some of the most commonly used vehicles during peak moving season:

·  Box Trucks

·  Cargo Vans

·  Trailers

Want to get more specifics about these vehicles? Read our guide for more details about each one.

Need Extra Vehicles? Have Trucks Sitting Idle?

Join COOP by Ryder and Everyone Wins!

There are many ways businesses can take advantage of a revolutionary commercial vehicle sharing community like COOP during the moving season. With our innovative tools, we’re helping businesses overcome challenges and optimize fleet utilization. By registering for an account, you can get access to thousands of commercial vans, trucks, tractors, and trailers available for rent in your area. Plus, companies with idle equipment can list their vehicles to earn thousands in additional revenue.

Download our complete moving season guide now to get more insights!


*Sources: American Trucking Associations, Forbes, IbisWorld

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