In our 80-year history, it would be hard to find a time when Ryder was better positioned to drive demand. Current trends in the economy and in the transportation and logistics markets point toward an increase in outsourcing. Combined with ongoing improvements to Ryder’s business model, the quality of our people and breadth of our resources, it’s clear that demand for our services is growing.
The potential logistics outsourcing market is huge – only 11% of the North American market has been tapped. Shippers are confronting an increasing number of challenges, making outsourcing an alternative that’s difficult to ignore. There’s a variety of reasons for this.
- Deferred vehicle replacement activity has resulted in record fleet aging – this should lead to increased truck sales in the coming years.
- The cost and complexity of complying with government regulations such as EPA mandated engine technology changes and CSA continues to increase.
- The dynamic nature of sourcing strategies continues to increase the complexity of managing supply chains.
- Some companies have limited access to capital while others are more inclined to focus their investment dollars in their core business.
- Attracting and retaining qualified drivers continues to be a challenge.