Automation, standardization increase aftermarket product attachment
CHARLOTTE — Automation is key for equipment dealers looking to sell aftermarket products as it will help increase attachment rates and streamline their integration into the sales cycle. “What I’ve found visiting dealers is that, on the front end, there’s no
Mitsubishi HC Capital Canada to finance Lion Electric EVs
Mitsubishi HC Capital Canada and ENGS Commercial Finance are providing financing to electric vehicle manufacturer Lion Electric for the company’s school bus and truck customers in the United States and Canada. Mitsubishi HC Capital America is set to absorb ENGS Commercial
US business equipment orders increase by the most in five months
Orders placed with US factories for business equipment increased in January by the most in five months, suggesting businesses continue to make longer-term capital investments despite high borrowing costs and lingering economic uncertainty. The value of core capital goods orders, a
Arvest Bank rolls out equipment lending product
Arvest Bank launched an equipment finance lending product on cloud-native core banking platform Thought Machine. The $26 billion bank decided to run the product on a cloud-based core to keep up with ever-changing segments — including the $1 trillion-and-growing equipment finance market, Laura
H&E Equipment Services posts record rental revenue
H&E Equipment Services logged record rental revenue in the fourth quarter of 2022 due in part to favorable industry conditions and successful growth for the company. H&E recorded rental revenues of $245.0 million, up 34.6% year over year. For the full
Kubota NA financing income jumps as inventory improves
Kubota Corp.’s North American financing income jumped as the Japanese OEM raised prices to combat continued inventory constraints. North American finance income for the full year 2022 clocked in at $585.8 million, according to the company’s earnings supplement. NA finance income
Equipment SaaS companies Texada, Uptake Canada complete merger
Equipment rental and mobile SaaS provider Texada Software and equipment dealer SaaS provider Uptake Canada completed a merger this week that will combine the services under a single brand. The merged company will combine software into a bundled SaaS platform that
DLL closes first ABS deal of 2023
Vendor financier DLL closed its first asset-backed securitization deal of 2023 on Feb. 2 — an $850 million transaction backed by loans and leases secured by agricultural, golf course and turf equipment. The pool consists of: 73.6 % loans and 24.6%
Chicago Fed’s Lavelle joins Equipment Finance Connect speaker faculty
Martin Lavelle, senior business economist at the Federal Reserve Bank of Chicago, will take the stage to discuss the Fed's view on current economic trends within equipment finance at 10 a.m. on Feb. 28 during the 2023 Equipment Finance Connect
As banks tighten credit, equipment financers see opportunity
Equipment financiers remain optimistic about 2023, even as inflation and recession fears continue to linger. “Our folks haven't missed a beat during the last recession; they haven't missed a beat when interest rates are high, they don't miss a beat when