Industry News

Finding Success in Leasing

Penske Leasing’s influx of new MAN models have proved popular with customers, and has launched the company strongly into 2024, helping it in finding success in leasing.

The last time PowerTorque spoke to Adrian Beach from Penske Leasing, the truck rental company was excited for its order of MAN TG3 models that were set to arrive on Australian shores last September.

Like many other sectors of the transport industry, the final quarter of the year is when business is busiest for leasing companies, and Adrian says 2023 was no different.

The new trucks came in at the perfect time for Penske Leasing. After continually facing shipping issues and factory shutdowns, the final months of 2023 have sparked massive growth leading into 2024.

“We usually like our brand new trucks to hit in the fourth quarter, where we kind of flex up to match the increased demand that comes in the fourth quarter with all the Christmas deliveries and stuff like that,” Adrian explains.

“I wanted to have some that were on the ground in operation, but they were still going through production, the build up and everything like that.

“The new TG3s coming in have been huge for business, and customers love them. And with the lease business, now that we have this pipeline of inventory, we can really go after some of those lease deals.”

Image: Penske Leasing/Supplied

Adrian says that since the TG3 models joined the Penske Leasing rental fleet, demand for the trucks has increased massively.

“Now we’ve got people requesting TG3s, which is hard, because they still only make up 10 or 15 per cent of our fleet, we still have to replace our older models,” he says. “When the drivers get dropped off to pick up their rental truck, they’re always asking if they can get one of the new ones.

“The TG3s are really easy to get in and out of, they changed the whole configuration of the door and the steps. Our GM cabs in the TGX 540s have got a flat floor and a really high roof, and a lot more room for the driver. They’ve brought the windscreen down and the window levels down. The visibility is really good.

“The TG3s have got everything that we loved about the TG2s, it’s the same engine and drivetrain, they’re just stiffening up the front suspension a little. They’re still just as reliable, and fuel economy is great. But now they have a really flashy interior, it looks a lot more like a premium truck on the inside now. We can’t get enough of them.”


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