Increased fleet orders for trucks and vans created backlogs at upfitter facilities, increasing lead times and missed ship-thrus. A shortage of rail autorack carriers further delayed deliveries. Despite this, order-to-delivery for most units was similar to 2017.
Element to 'Reset' Fleet Business
Element Fleet Management has announced a five-point plan to "reset" its fleet business that includes internal actions, a $150 million operations investment, a $300 million share offering, a purchase and wind-down of its 19th Capital joint venture, and an accountability plan.