Ryder Offers Beverage Industry Fleets Long-Term Lease
By Business Wire News
By Business Wire News
Ryder System, Inc. (NYSE: R), a leader in commercial fleet management, dedicated transportation, and supply chain solutions, today announced that it will provide beverage fleets with a Long-Term Full Service Lease (Long-Term FSL) of up to 10 years — a solution that addresses an identified industry need. This is an increase from the Company’s standard FSL term of five to seven years. According to a 2013 survey conducted by Beverage World, beverage fleets run fewer miles than the industry average, with 75 percent of route delivery fleets running less than 40,000 miles a year. Beverage companies have a longer fleet lifecycle as a result, with 49% of beverage vehicles being five to nine years old and 47 percent being 10 or more years old. These statistics support the need for greater flexibility among beverage industry fleets.
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A Ryder Long-Term FSL enables beverage companies to free up time, resources, and capital in order to focus on their core business. In addition to being cost effective, the offering helps customers to minimize fleet downtime and maintain a consistent level of fleet maintenance and repair with access to Ryder’s maintenance programs for the life of the lease. With a Long-Term FSL, Ryder acquires vehicles according to the customer’s specifications, provides financing, maintenance, and fleet support services, and then manages vehicle disposal to protect customers from residual risk.
“We introduced the Long-Term FSL in response to feedback provided by members of Ryder’s Food & Beverage Customer Advisory Board,” said Dennis Cooke, President of Global Fleet Management Solutions. “The Board, which brings together an exclusive group of thought leaders from a cross-section of the sector, provides us with invaluable feedback. Their thoughts and contributions enable us to address the future needs of the food and beverage industry and to make continuous improvements for fleets in an industry that we have been serving for nearly 80 years.”
Ryder is a FORTUNE 500® commercial fleet management, dedicated transportation, and supply chain solutions company. Ryder’s stock (NYSE:R) is a component of the Dow Jones Transportation Average and the Standard & Poor’s 500 Index. Ryder has been named among FORTUNE’s World’s Most Admired Companies, and has been recognized for its industry-leading practices in third-party logistics, environmentally-friendly fleet and supply chain solutions, and world-class safety and security programs. The Company is a proud member of the American Red Cross Disaster Responder Program, supporting national and local disaster preparedness and response efforts. For more information, visit www.ryder.com, and follow us on our Online Newsroom, Facebook, LinkedIn, Twitter, and YouTube.
Note Regarding Forward-Looking Statements:Certain statements and information included in this news releaseare “forward-looking statements” within the meaning of the Federal Private Securities Litigation Reform Act of 1995.These forward-looking statements are based on our current plans and expectations and are subject to risks, uncertainties and assumptions.Accordingly, these forward-looking statements should be evaluated with consideration given to the many risks and uncertainties that could cause actual results and events to differ materially from those in the forward-looking statements including those risks set forth in our periodic filings with the Securities and Exchange Commission.New risks emerge from time to time.It is not possible for management to predict all such risk factors or to assess the impact of such risks on our business.Accordingly, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.