The Equipment Leasing & Finance Foundation’s Monthly Confidence Index for the Equipment Finance Industry shows that confidence in the equipment finance market in April is 62.1, up slightly from the March index of 61.7, and the fourth consecutive month of increases, indicating industry participants’ optimism is slowly but steadily rising.
Designed to collect leadership data, the index reports a qualitative assessment of both the prevailing business conditions and expectations for the future as reported by key executives from the $628 billion equipment finance sector.
“While the business climate has definitely improved over the last 18 months, American companies are still very cautious with respect to the growth and expansion of their businesses,” says MCI survey respondent Thomas Jaschik, president of BB&T Equipment Finance. “As they feel more confident in expansion, our market will grow as well.”
Affected tractors are equipped with an automated Eaton UltraShift Plus or Eaton Advantage Transmission with right hand stalk shifter. In the affected trucks, the display on the instrument panel can indicate “N” when the shifter is set into “D” or “R,” causing the truck not to move.