Commercial Vehicle Rental Market Guide: Third Quarter 2022
Just like that, we’re halfway through the year, and the summer is here. In addition to rising temperatures, things are also heating up on demand for certain commercial vehicles in Q3.
From changing supply chains to inflation, we’ll do a quick overview of data and insights which will empower your business to make informed decisions on how to approach the changes in the transportation market this summer. We’ve combined macro market trends with historical rental data so your business can leverage this guide to anticipate rental demand.
Download our complete guide for tips on fulfilling the need for extra capacity or how to optimize your fleet to improve your bottom line.
At a Glance: Q3 Insights Affecting Freight Movement
- Ports Reopening – Large ports like those in Los Angeles expect to see imports rise about 20%. The challenge will be having vehicles ready to handle the increase in the supply chain.
- Inflation – With prices of goods rising, there is some slow-down in consumer spending. While there may be a slight dip in consumer demand, it is still above pre-pandemic levels. With more inventory arriving, adjusting fleet capacity quickly will be the key to continue running efficiently.
- New Construction – With summer being an optimal time for building, it is expected that the amount of construction will continue to increase.
To read more about these topics and for additional insights affecting the market, download our complete guide.
Historical Industry Rental Trends for Q3
Based on historical rental trends from over the last four years, we expect certain vehicles to keep playing a bigger role in the third quarter as demand continues for the Food & Beverage, Construction, and Moving industries.
Summer Weather = Specific Vehicle Popularity
The summer season typically has high rental demand for refrigerated trucks and trailers as they service many of the active industries during these months. Additionally, vehicles like sprinter vans and box trucks are essential for last-mile delivery fulfillment.
- Refrigerated Trucks
- Dry Van Trailers
- Final-Mile Vehicles
As seen in Q3 2021, the following graphic shows data for last year's most popular rental brands and the opportunity to generate revenue which we anticipate will be comparable this year.
To see more stats and specific information, download our complete guide.
Optimizing Fleet Use in the Summer
Inventory and demand is constantly changing in the transportation industry. Because of these fluctuations, find worthwhile ways you can adapt your fleet.
- Reserve your vehicles in advance if you know you will need extra capacity.
- When vehicles become idle, have a plan to reduce their downtime.
- Take advantage of COOP’s nationwide network.
What COOP Can Do for Your Business
With the help of our experts and our innovative technology, businesses are generating thousands of dollars as an additional revenue stream or finding the additional capacity they need with COOP.
Get more insights, stats, and data for Q3! Download the complete Commercial Vehicle Rental Market Guide now.