The Car and Truck Fleet and Leasing Management Magazine

Freightliner Seeks to Revise ‘Buy Back’ Contracts

October 9, 2001

Freightliner is pressuring many of its customers to renegotiate sale-repurchase contracts that it contends it can no longer afford, the Wall Street Journal reported.A DaimlerChrysler spokesman told Reuters it will announce a major restructuring for Freightliner before Oct 20. Daimler's management board is expected to discuss Freightliner’s turnaround plan at a meeting at its company headquarters in Stuttgart, Germany.The Journal said Freightliner’s growth strategy in the 1990’s had called for it, more than other manufacturers, to guarantee a price at which it would buy back trucks. In this way, it won big fleet orders.In recent months, Freightliner has told fleets that it can’t honor these buy back contracts, and it has proposed having these companies keep their trucks an extra year or two and accept less money when they are returned, the Journal said.
Twitter Facebook Google+


Please note that comments may be moderated. 
Leave this field empty:

Fleet Incentives

Determine the actual cost of owning and running a vehicle in your fleet. Compare vehicles by class and model.

Sponsored by

CEO and founder of Mike Albert Vehicle Fleet Management

Read more

Up Next

More From The World's Largest Fleet Publisher