TANK fleets and other companies in the heavy-duty trucking industry continue to deal with many of the same issues it has experienced in recent memory. Company executives and operators remain focused on areas such as driver retention, safety regulations, diesel prices, electronic driver logs, tax law, and total cost of ownership, to name a few. Additionally, industry professionals continue to keep a watchful eye on the broader economy to identify trends that may impact the transportation industry.
One area that links all of these is leasing. There are clear signs that point toward more industry executives changing their business philosophy and moving toward a shorter asset lifecycle to lower their total costs, with leasing as the preferred mode of equipment acquisition.
A new accounting standard instituted during 2015 is expected to continue the movement toward leasing. The Financial Accounting Standards Board (FASB) voted to institute a new standard for reporting lease obligations.
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