EFN focuses on vendor-lender news & insights in the equipment lending & leasing industry
Dropping transportation values created less incentive for lenders to repossess commercial vehicles despite default rates remaining elevated.
Dropping transportation values created less incentive for lenders to repossess commercial vehicles despite default rates remaining elevated.
Caterpillar unveiled its latest sustainable mining technology, a battery electric prototype underground mining truck, during a demonstration today for gold mining company Newmont Corp. in Tasmania, Australia.
Caterpillar unveiled its latest sustainable mining technology, a battery electric prototype underground mining truck, during a demonstration today
A market downturn and a potential rise in repossession orders for skid steers could indicate looming problems for the equipment industry.
A market downturn and a potential rise in repossession orders for skid steers could indicate looming problems for the equipment industry.
Penske Logistics appointed Jeff Jackson as its new president, succeeding Marc Althen upon his retirement.
Jackson, a Penske veteran with more than 28 years of experience in the transportation sector, is the executive vice president of operations and has served in
The increased capital costs that have forced some lenders to pull back from equipment finance are giving rise to a higher volume of broker and intermediary transactions in what some are calling the “last Wild West of business.”
The increased capital costs that have forced some lenders to pull back from equipment finance are giving rise to a higher volume of broker and intermediary deal
Small rises in prices contributed to mixed agricultural equipment values in November as supply stabilizes.
Small rises in prices contributed to mixed agricultural equipment values in November as supply stabilizes. Many of the price changes in agriculture are the resu
The business cycle is expected to return to normal in 2024, with improved macroeconomic conditions and equipment asking values, according to three senior equipment executives.
The business cycle is expected to return to normal in 2024 with improved macroeconomic conditions and equipment asking values, according to equipment executives
Demand for construction equipment softened in November as auctions, dealers and OEMs continued to manage excess inventory.
Demand for construction equipment softened in November as auctions, dealers and OEMs continued to manage excess inventory.
Farmers’ sentiment regarding the industry’s financial performance, income trends and capital funding improved on the heels of a better-than-expected harvest season.
Farmers’ sentiment regarding the industry’s financial performance, income trends and capital funding improved on the heels of a better-than-expected harvest
Sunbelt Rentals’ rental revenue grew due to increased volume and rates in its U.S. fiscal second quarter, which ended Oct. 31.
Sunbelt Rentals’ rental revenue grew due to increased volume and rates in its U.S. fiscal second quarter, which ended Oct. 31.
As Ralph Petta, president and chief executive of the Equipment Leasing and Finance Association, prepares for retirement after 36 years in the industry, he is reflective on industry changes during his years as a leader, as well as the industry’s outlook with regard to government policy, macroeconomics, technology, and diversity, equity and inclusion.
As Ralph Petta, president and chief executive of the Equipment Leasing and Finance Association, prepares for retirement after 36 years in the industry, he is re
Equipment finance broker and intermediary deals have been on the rise in the past month as more banks tightened credit requirements amid rising interest rates.
Equipment finance broker and intermediary deals have been on the rise in the past month as more banks tightened credit requirements amid rising interest rates.
Prepayments on securitized heavy equipment loans have started to decline, after remaining elevated since the pandemic, JPMorgan Securities data shows.
Prepayments on securitized heavy equipment loans have started to decline, after remaining elevated since the pandemic.
Ford Credit is developing more ways to support commercial vehicle financing as Ford increases its investment in its commercial segment.
Ford Credit is developing more ways to support commercial vehicle financing as Ford increases its investment in its commercial segment. Ford Credit is moving
Equipment dealer Titan Machinery increased its floorplan use in the third quarter as rising interest rates and growing inventory put pressure on its floorplan expense.
Equipment dealer Titan Machinery increased its floorplan use in the third quarter as rising interest rates and growing inventory put pressure on its floorplan
Demand for equipment cooled as inventory held steady over the past six weeks as the Federal Reserve’s hawkish monetary policy continued to constrain the economy while tamping down inflation.
Demand for equipment cooled as inventory held steady over the past six weeks as the Federal Reserve’s hawkish monetary policy continued to constrain the economy
Equipment finance originations declined year over year in October as concerns persist over banks pulling back and credit standards tightening.
Equipment finance originations declined year over year in October as concerns persist over banks pulling back and credit standards tightening.
Agricultural equipment values and inventory growth slowed at auction in October as the market stabilized with the return of traditional seasonality and an expected uptick at yearend.
Agricultural equipment values and inventory growth slowed at auction in October as the market stabilized with the return of traditional seasonality
Deere & Co. projects financial services growth in fiscal 2024 despite expecting a double-digit decline in net sales across all segments.
Deere & Co. projects financial services growth in fiscal 2024 despite expecting a double-digit decline in net sales across all segments.
Construction equipment activity remained steady in October as the market prepared for the return of seasonality and increased yearend activity.
Construction equipment activity remained steady in October as the market prepared for the return of seasonality and increased yearend activity.
Values for used transportation equipment continue to fall as organizations address procurement, the growing gap between new- and used-vehicle values and rising costs following the pandemic.
Values for used trucking equipment continue to fall as organizations address procurement, the growing gap between new- and used-vehicle values and rising costs
HBS Systems, a web-based equipment dealership management solutions provider, is integrating Trnsact’s digital finance and insurance platform to streamline financing processes for equipment dealers.
HBS Systems is integrating Trnsact’s digital finance and insurance platform to streamline financing processes for equipment dealers.
H&E Equipment Services, Herc Rentals, Ryder System and United Rentals posted equipment rental fleet utilization rate declines in the third quarter as rates fell from pandemic-induced highs.
Rental industry utilization dips - Equipment Finance News
H&E Equipment Services, Herc Rentals, Ryder System and United Rentals posted equipment rental fleet utilization rate declines in the third quarter
Ford Credit’s executive vice president of Ford Pro FinSimple, Jim Drotman, focuses daily on creating and improving an all-encompassing solution for commercial customers.
Ford Credit's Jim Drotman talks commercial strategy - Equipment Finance News
Drotman discussed Ford Pro FinSimple’s goals, technological advances and ability to tap into the commercial vehicle financing market during the summit.
Equipment finance industry digital transactions increased during the pandemic as lenders adapted to more touchless engagements.
Equipment finance industry digital transactions increased during the pandemic as lenders adapted to more touchless engagements.
Equipment vendor Alta Equipment Group’s construction and material handling revenue grew in the third quarter as equipment demand remained elevated despite inflation concerns and rising interest rates.
Equipment vendor Alta Equipment Group’s construction and material handling revenue grew in the third quarter as equipment demand remained elevated despite infla
European equipment insurance product and service provider Acquis is entering the United States market under new leadership as the company looks to translate its success across the pond.
European equipment insurance product and service provider Acquis is entering the United States market as the company looks to translate across the pond.
CNH Industrial Capital originations grew in the third quarter as appetite increased for the captive’s offerings despite elevated interest rates and a decline in sales at its parent company.
CNH Industrial Capital originations grew in the third quarter as appetite increased for the captive’s offerings despite elevated interest rates and a decline in
Equipment finance software provider Alfa has launched a platform for equipment financiers that will allow companies to further their digitalization efforts.
Equipment finance software provider Alfa has launched a platform for equipment financiers that will allow companies to further their digitalization efforts.
Material handling manufacturer Hyster-Yale grew dealer sales in the Americas in the third quarter as the company benefited from improving supply chains and a higher-margin product mix. The sales growth comes as loans and dividends from Wells Fargo Financial Leasing remained flat sequentially.
Hyster-Yale grew dealer sales in the Americas in the third quarter as the company benefited from improving supply chains and a higher-margin product mix.
Chinese electric truck maker Windrose Technology Inc. has started preparatory work for an initial public offering in the US next year as it plans the commercial roll out of its first vehicle.
Chinese electric truck maker Windrose Technology Inc. has started preparatory work for an initial public offering in the US next year as it plans the commercial
Cat Financial’s originations rose in the third quarter of 2023 despite interest rate concerns tightening financial markets and negatively impacting new-vehicle market share.
Cat Financial’s originations rose in the third quarter of 2023 despite interest rate concerns tightening financial markets and negatively impacting new-vehicles
Ford Pro FinSimple EVP Jim Drotman talks telematic opportunties for commercial fleets.
Ford Pro is seeing increased utilization in its telematic fleet management technology that allows fleet managers to better monitor how vehicles are bei...
The United States District Court for the Southern District of Texas has issued an expanded, nationwide injunction granting relief from the implementation of Section 1071 of the Dodd-Frank Act.
The United States District Court for the Southern District of Texas has issued an nationwide injunction granting relief from the implementation of Section 1071
Some equipment finance executives are pushing for industry standards to improve operations and reduce government intervention.
Some equipment finance executives are pushing for industry standards to improve operations and reduce government intervention.
Fintech Spring Free EV is gearing up to launch a product that will allow fleet managers to access residual capital funding and take advantage of EV tax credits as they grow their fleets, regardless of tax status.
Spring Free EV debuts tax equity product for commercial fleets | Auto Finance News
Fintech Spring Free EV is gearing up to launch a product that will allow fleet managers to access residual capital funding and take advantage of EV tax credits
Traton Financial Services’ revenue rose in the third quarter of 2023 as the company expanded its truck and bus portfolio and interest income increased.
Traton Financial Services’ revenue rose in the third quarter of 2023 as the company expanded its truck and bus portfolio and interest income increased.
Positive portfolio quality, heightened used truck sales, and product launches led to growth in Paccar Financial Services’ revenue and portfolio in the third quarter.
Positive portfolio quality, heightened used truck sales, and product launches led to growth in Paccar Financial Services’ revenue and portfolio in the Q3
Equipment finance companies foresee development of artificial intelligence tools specific to their industry within 10 years as AI is seeing adoption and adaption by industry organizations seeking to gain a competitive advantage.
Equipment finance companies foresee development of artificial intelligence tools specific to their industry within 10 years.
A cyclical recession could open the door for equipment financiers with lending capacity.
A cyclical recession could open the door for equipment financiers with lending capacity.
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