Company Provides Cost-Effective Solution to Address Industry Need
MIAMI--(BUSINESS WIRE)--
Ryder
System, Inc. (NYSE: R), a leader in commercial
fleet management, dedicated
transportation, and supply
chain solutions, today announced that it will provide beverage
fleets with a Long-Term Full Service Lease (Long-Term FSL) of up to 10
years — a solution that addresses an identified industry need. This is
an increase from the Company’s standard FSL term of five to seven years.
According to a 2013 survey conducted by Beverage World, beverage fleets
run fewer miles than the industry average, with 75 percent of route
delivery fleets running less than 40,000 miles a year. Beverage
companies have a longer fleet lifecycle as a result, with 49% of
beverage vehicles being five to nine years old and 47 percent being 10
or more years old. These statistics support the need for greater
flexibility among beverage industry fleets.
TWEET THIS: @RyderPR offers beverage fleets long-term full service lease
offering of up to 10 years
A Ryder Long-Term FSL enables beverage companies to free up time,
resources, and capital in order to focus on their core business. In
addition to being cost effective, the offering helps customers to
minimize fleet downtime and maintain a consistent level of fleet
maintenance and repair with access to Ryder’s maintenance programs for
the life of the lease. With a Long-Term FSL,
Ryder acquires vehicles according to the customer’s specifications,
provides financing, maintenance, and fleet support services, and then
manages vehicle disposal to protect customers from residual risk.
“We introduced the Long-Term FSL in response to feedback provided by
members of Ryder’s Food & Beverage Customer Advisory Board,” said Dennis
Cooke, President of Global Fleet Management Solutions. “The Board, which
brings together an exclusive group of thought leaders from a
cross-section of the sector, provides us with invaluable feedback. Their
thoughts and contributions enable us to address the future needs of the
food and beverage industry and to make continuous improvements for
fleets in an industry that we have been serving for nearly 80 years.”
About Ryder
Ryder is a FORTUNE 500® commercial fleet management, dedicated
transportation, and supply chain solutions company. Ryder’s stock
(NYSE:R) is a component of the Dow Jones Transportation Average and the
Standard & Poor’s 500 Index. Ryder has been named among FORTUNE’s
World’s Most Admired Companies, and has been recognized for its
industry-leading practices in third-party logistics,
environmentally-friendly fleet and supply chain solutions, and
world-class safety and security programs. The Company is a proud member
of the American Red Cross Disaster Responder Program, supporting
national and local disaster preparedness and response efforts. For more
information, visit www.ryder.com,
and follow us on our Online
Newsroom, Facebook,
LinkedIn,
Twitter,
and YouTube.
Note Regarding Forward-Looking Statements: Certain statements
and information included in this news release are
"forward-looking statements" within the meaning of the Federal Private
Securities Litigation Reform Act of 1995. These forward-looking
statements are based on our current plans and expectations and are
subject to risks, uncertainties and assumptions. Accordingly,
these forward-looking statements should be evaluated with consideration
given to the many risks and uncertainties that could cause actual
results and events to differ materially from those in the
forward-looking statements including those risks set forth in our
periodic filings with the Securities and Exchange Commission. New
risks emerge from time to time. It is not possible for management
to predict all such risk factors or to assess the impact of such risks
on our business. Accordingly, we undertake no obligation to
publicly update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151029006465/en/
Source: Ryder System, Inc.