Fewer Trucks Repossessed in the First Half of 2003
According to Nassau Asset Management’s first public release of its NasTrac Quarterly Index (NQI), fewer trucks were repossessed in the first two quarters of 2003 than the same time last year. The company says this is a sign that the economy may be improving for the trucking industry if clear trends can be established over the next few quarters. NQI is based solely on the Nassau's internal data.
Nassau Asset Management has tracked equipment values for several decades as a function of its nationwide remarketing operation, which recaptures and resells all types of assets.
Ed Castagna, senior executive vice president, says the 2nd quarter data, when compared with the same quarter a year ago, shows there was a 32 percent decrease in repossessions of trucks/trailers.