Good News, Bad News on Truck Repossessions
Nassau Asset Management’s NasTrac Quarterly Index shows a 27-percent decrease in repossessions of construction equipment and a 61-percent drop in truck and trailer repossessions the first quarter of 2004 compared with the same quarter last year.
“Our data shows continued improvements in overall number of repossessions from businesses. However, we have been very busy lately, perhaps due to the uneven economic recovery of various industries,” Ed Castagna, Nassau’s senior executive vice president, said. “For example, while repossessions of construction equipment and trucks are down compared with the first quarter 2003, they have increased significantly in the past few months since the fourth quarter 2003.”