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Buh-Bye 2020: Big Reasons to Look Ahead

Longest. Year. Ever.

We all know by now that just because the calendar is changing doesn’t mean everything is going right back to the way things were—far from it. Some things will stay changed, different than what we knew by necessity. But there is just something about 2020 drawing to close that feels like a huge relief. Wish we could say it’s been fun, but good riddance. Stick a fork in it. Don’t let the door hit ya, and whatnot.

That being said, over the last quarter or so, we’ve started to see progress on a number of fronts that indicate a new sense of optimism and strength throughout our industry and beyond. For our final blog of 2020, Idealease would like to share some encouraging news—so let’s look down the road.

The Recovery is Underway

As of the writing of this post, thanks to truckers, the U.S. will have administered about 2 million doses of the COVID-19 vaccine in 14 days. Canada has given nearly 50,000 injections and Mexico is around 3,000. That’s with just two of the five possible vaccines approved for emergency use. There’s more coming, lots more.

Also, in the U.S., a $2.3 trillion coronavirus bill was signed into law and it includes a $900 million relief package that provides retroactive benefits for folks who need them the most. The bill also includes a provision for stimulus checks to be sent directly to the American people, but at this time it is unclear exactly how much the checks will be for. Nonetheless, it’s more welcome good news.

In the commercial trucking industry, specifically, we’ve seen really encouraging signs of a positive and sustained rebound from the challenges of 2020, as well. Here are a few highlights:

  • Spot freight had been at record levels since August and continued to rise into December
  • Commercial vehicle demand remains strong and well positioned into the new year
  • Class 8 used truck sales volumes are 18% higher vs. 2019 through 11 months
  • Six consecutive months of year-over-year gains in trailer orders through November

Add to all of that the great potential that exists as a result of Traton’s $3.7 billion purchase of Navistar, and the sense of opportunity and optimism feels more and more justified. Good things are headed our way, indeed.

What’s Auld is New Again

From a cultural and social perspective, flipping a page in a calendar may feel pretty arbitrary. After all, the same challenges will exist on January 1st as they did the day before—the pandemic will not just disappear because 2020 has ended, unfortunately. Yet, there is something to be said about symbolically and emotionally wiping the slate clean and looking to the future with fresh eyes and a clear mind. New Year’s Day is as great a place to start as any, so let’s do this!

Thanks for reading, connecting, and interacting with us this year. We look forward to continuing to bring you the latest Idealease updates and industry news on this blog once the page on the calendar has turned.

Happy New Year from everyone at Idealease, we wish you and yours a very happy and healthy 2021.