August 26, 2021
1 min read

Prepare Your Business for the Holiday Peak

The holiday season sees the highest commercial rental vehicle demand of the year. This Fourth Quarter seasonality, historically, has the most commercial vehicle rental days compared to any other quarter of the year with 28% of the total rental volume. In the past two years a new rental trend is emerging. The demand for commercial rental vehicles has outpaced their supply, which has made businesses seek rental vehicles up to eight weeks earlier than years past. Many companies secure their rental vehicles in August, then request to keep those rental vehicles through the end of the year to make sure they have the holiday capacity they need. With the potential for long-term rentals, businesses with available vehicles have an opportunity to earn steady revenue through the end of the year.

With COOP, the leading commercial vehicle sharing platform, your business can take advantage of this opportunity. As a vehicle owner, you can keep the wheels moving by renting out the trucks, tractors or trailers in your fleet. During the Fourth Quarter, rentals typically go out long-term and that means steady revenue for your business to close out the year.

Read through our tips to prepare for the upcoming holiday season, and learn how you can improve your business’ bottom line with ease.

Vehicle Types to Rent Out Before the Holiday Rush

In the Fourth Quarter, we anticipate certain vehicle types will be rented more often compared to others. Trailers, final-mile vehicles, and refrigerated vehicles will be in high demand. We are already seeing that these vehicle types have been booked for long-term rentals this summer, and their Owners are receiving extension requests to keep them even longer. One reason is the ocean freight holiday peak shipping season started ramping up in June over two months earlier compared to previous years. Additionally, Retail Industry importers have begun to advance purchase orders and factory production by as much as six to eight weeks.

Long-Term Trailer Rentals

This summer, the supply chain is seeing a higher demand for trailers than there are available. Lately, manufacturers are struggling to produce vehicles for the market and many businesses have had to wait in trailer manufacturing queues. With these growing wait times, businesses are underfleeted to meet the future holiday demand. It is easy to rent out 53 foot dry van trailers and day cab tractors long-term in these market conditions.

With COOP, trailers are getting rented quickly. On average, they can earn up to $964 for a 30-day rental with the COOP platform. One COOP Owner had their trailers on the road making money within 24 hours from when they were listed on the platform.

Rental Vehicles for Final-Mile Deliveries

In 2020, final-mile vehicle rentals accounted for 44% of the rental days from Mid-August to December. These light duty rentals range from sprinter vans to box trucks, and with the right specs they can draw in loyal Renters. Vehicles that maneuver well in cities are perfect for these local deliveries.

E-commerce, meal delivery kits, and other home deliverable goods all surged in consumer demand in 2020 so the need for local deliveries with these final-mile vehicles will follow. Businesses shifted from in-person services and towards home deliverable goods to match consumer needs. This shift has driven final-mile rentals to start getting booked in the summer to prepare for the volume of orders that will get fulfilled throughout the Fourth Quarter. These businesses' growth depends on renting final mile vehicles earlier than they would normally as they compete with rising contract and spot market rates.

Steady rentals are coming in for our COOP Owners that have box trucks and sprinter vans. Lasting and recurring relationships between businesses happen every day on the platform. We predict Renters will come back time and again to rent from Owners that provide positive communications. In some cases, Renters may reserve the vehicles long-term to ensure they can keep it during the busy holiday delivery season.

Renter Demand for Refrigerated Vehicles

The end of the year is a very competitive time for refrigerated vehicles. Around the holidays, Food & Beverage distribution starts to ramp up along with strong demand for refrigerated vehicle rentals. This historic trend is driven by food distribution, events, and tourism that open up new opportunities for Owners with reefer vehicles available to rent out.

Owners can help Renters in their network meet the surge of holiday food & beverage industry demand, and generate revenue in doing so. Owners earn their daily rental rate, mileage, and refrigerated hours with each rental. In the Fourth Quarter of last year, over $55,000 was paid out to our top Owner through refrigerated vehicles alone. For a month-long rental, we calculate that Owners could earn $2,544 for each reefer trailer and $4,774 for each reefer truck on the platform.

Generate Maximum Revenue Leading into the Fourth Quarter

In this market, Renters are securing fleet capacity today to keep them through the rest of the year. Your business can capitalize on this opportunity. Here are some tips on how:

  • Keep vehicles available. Stay up-to-date as your business’s needs change. Popular Fourth Quarter picks like final-mile, refrigerated, and trailer vehicles are more likely to be rented if they are made available at the beginning of the work week.
  • Set a competitive daily rate. Make sure your rental rates are comparable to the rest of the market. Also consider offering long-term rental discounts to make your listing more attractive to Renters and generate revenue through the end of the year.
  • Promote your businesses. Use COOP’s tools to advertise your vehicles to companies in your network. They could be the ones who need to rent the vehicles that you have sitting.

With our platform, our technology, and our team’s expertise, your business has the tools to rent out your vehicles and generate revenue.  

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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