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Falling repos may indicate rebound

Roslyn Heights, NY-based Nassau Asset Management (NAM) said this week that its repossessions of trucks and trailers dropped 56% in 2003 compared to 2002 – an indication that the fiscal health of the trucking industry is improving.

“One reason is that many of the less healthy and smaller trucking companies in the market have been weeded out by the poor economy and high fuel prices over the last few years,” Ed Castagna, NAM’s senior VP, said. “The companies that are left are in much better shape – they have staying power.”

He also noted that out of the five top equipment categories NAM tracked, “trucks and trailers” was the only one where repossession fell over all four quarters of 2003. Other positive trends within the industry include the growth in commercial trucks sales over the latter part of 2003 and projected into 2004 and beyond, Castagna said.

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