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Rail News: Rail Industry Trends

Equipment finance market was a tad more active in 2010, survey says


Following business volume declines in 2008 and 2009, the equipment finance industry regained volume in 2010 despite another, but smaller, year-over-year drop, according to a 2011 Survey of Equipment Finance Activity (SEFA) released last week by the Equipment Leasing and Finance Association (ELFA).

Overall, volume decreased 3.9 percent compared with 2009; volume previously fell 30.3 percent in 2009 and 2.2 percent in 2008 vs. prior years. New equipment financing volume reported by ELFA members for the rail industry was flat at 0.6 percent, according to the SEFA. New business volume members financed for railroad equipment decreased from 1.1 percent in 2009 to 0.9 percent in 2010.

From an asset perspective, agriculture, trucks/trailers and medical imaging/ electronic devices registered business volume increases, while construction, energy and printing posted decreases, according to the ELFA. The categories with the biggest gains include state and local government, mining/oil and gas extraction, agriculture/forestry/fishing and arts/entertainment/recreation.

The SEFA is based on responses from 108 ELFA members and covers key statistical, financial and operations information for the $521 billion equipment finance industry.
“Through 2010, the equipment finance industry showed gradual but steady growth,” said ELFA President and Chief Executive Officer William Sutton in a prepared statement. “Although uncertainty about the broader economy continues, more recent data collected in the first two quarters of 2011 suggests the trend toward an improved equipment finance industry is continuing.”

Contact Progressive Railroading editorial staff.

More News from 7/18/2011