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.
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:
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.
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.
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.
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.
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.
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:
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.
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.
Download our complete guide to read more about these topics and for additional market insights.
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.
Take a deeper dive into these solutions and how they could help your business. Get the Q3 Rental Guide.
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.
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.
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!
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.
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”.
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.
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.
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:
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.
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!
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.
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.
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.
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
Want to get more specifics about these vehicles? Read our guide for more details about each one.
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