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XTRA Lease Invests $300MM in New Trailers

April 08, 2019, 07:05 AM
Filed Under: Trucking

XTRA Lease, a leading provider of over-the-road trailer rentals and leases, announced it is investing more than $300 million to purchase more than 10,000 new trailers in 2019. It’s the largest capital investment made by XTRA Lease for trailers in a single year.

With the purchase of new dry vans, reefers, flatbeds and chassis, XTRA Lease’s fleet will grow to approximately 85,000 trailers.

New vans and reefers will be equipped with fuel-saving side skirts, air disc brakes and trailer tracking, free on all rentals and leases. All new vans include a cargo sensor, also a free service.

“We invest in new trailers every year to provide the youngest, most reliable fleet of rental trailers in the market,” said Bill Franz, President and CEO of XTRA Lease. “Our purchase this year will lower the average age of our over-the-road vans to 5.6 years. And our flatbed fleet will drop to an average age of 4.9 years.”

“Our goal is to ensure that fleets have access to quality trailers that they can count on to perform well with low maintenance,” he added. “A young fleet with disc brakes makes reliability a priority. Trailer tracking, fuel-saving side skirts and cargo sensors help fleets keep utilization high, costs low and drivers driving.”

The fleet will get a significant boost with the addition of 1,400 new flatbeds in 2019, the largest flatbed investment by XTRA Lease in several years.

New trailers are arriving at XTRA Lease branches now, and new production will continue to occur throughout the year.

Based in St. Louis, MO, and owned by Berkshire Hathaway, XTRA Lease gas about 50 locations and 400 employees.

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