MIND THE WINDING ROAD AHEAD!

A few months ago, as we wrote about a dangerous upwards trend of the interest rates, and senior figures in the transport business were saying that truck fleet expansions will only mean money put in scrap metal. For many people, those predictions might have seemed rather dreadful, especially considering the unprecedented economical growth in the first half of the year.

And here we are now, with rates reaching even 60%, cheap oil on international markets but expensive Diesel at the fuel stations, not to mention chaotic exchange rate swings for the leu. Although the rumor is that truck sales will only be affected the next spring, commercial vehicles’ manufacturers have already reconfigured their own financing divisions, and one of the best examples is MAN launching its own ”bank“. While old private banks are begging for support at the politicians’ doors, big truck manufacturers will be pleased to take a huge slice from the credit market for transport. Consequently, one has to expect irresistible offers compared to the standard financing solutions. There might also be pretty much freight to haul, apparently for nice profits. But on a winding road, such illusions are deadly: what’s the use of a new truck if it’s doomed to rust on its parking place and what’s the use of that freight if the pay does not come on time?