Commercial Vehicle Rental Market Guide: First Quarter 2023
2023 is here! A time for businesses with fleet operations to prepare for what’s next, as many companies experience a slowdown in the first quarter.
From rising fuel costs to less congestion at the ports and changing spot rates, our transportation guide covers several upcoming trends that will affect the industry.
Download our complete Q1 guide for valuable insights to help your business overcome challenges in the transportation market by finding the right opportunities during the first three months of 2023.
At a Glance: Q1 Seasonality Trends & Insights
- Rising Fuel Costs – This is the #1 concern for businesses in the transportation industry, as the average price is currently around $5.02 per gallon. Monitor changing freight rates to keep your supply chain running efficiently.
- Port Congestion Eases on the West Coast – For the first time since 2020, there have been little to no ships waiting off the ports in Southern California. This trend, combined with less inventory getting ordered, has companies shifting their operations.
- High Spot Rates – It is expected that Q1 will see increases in these rates, with a decline in Q2 2023 before picking up again to end the year’s second half. Keep an eye on these rates to prevent losses since shipping costs will be higher.
- And More
Download our complete guide to read more about these topics and for additional insights affecting the market.
Historical Rental Trends for Q1
Based on historical rental trends and seasonal shifts, many businesses, including those that provide internet services, water, waste, and electricity, among others see an increase in operations. Plus, because of Valentine’s Day, those in the flower industry see a big boost.
Popular Vehicle Types In Q1
- Refrigerated Vehicles
To see more stats and information about in-demand vehicles, download our complete guide.
How COOP Can Help with Rentals
Having the right amount of vehicles for your business can be difficult in today's market. 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 specifications.
- More rental options with access to 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 Q1.
- Reduce vehicle downtime during the slower months.
- 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.
What COOP Can Do for Your Business
With the help of our experts and our innovative platform, we can work together to optimize the needs of your business in the ever-changing transportation industry.
Download the complete Q1 2023 Commercial Vehicle Rental Market Guide now to get more insights, stats, and data!