XTRA Lease investing more than $300M in updating, growing its trailer fleet

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Updated Apr 9, 2019
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XTRA Lease TrailerXTRA Lease this week said it would pour more than $300 million into purchasing more than 10,000 new trailers this year – the largest capital investment made by XTRA Lease for trailers in a single year.

With the acquisition of the new dry vans, reefers, flatbeds and chassis, XTRA Lease’s trailer fleet will hit approximately 85,000 units.

“Our purchase this year will lower the average age of our over-the-road vans to 5.6 years. And our flatbed fleet will drop to an average age of 4.9 years,” says Bill Franz, President and CEO of XTRA Lease.

New vans and reefers will be equipped with aerodynamic side skirts, air disc brakes and trailer tracking, free on all rentals and leases. All new vans include a cargo sensor, also a free service.

“A young fleet with disc brakes makes reliability a priority,” Franz says. “Trailer tracking, fuel-saving side skirts and cargo sensors help fleets keep utilization high, costs low and drivers driving.”

XTRA Lease’s 2019 purchase includes a mix of 53- and 48-foot dry vans; 53- and 48-foot liftgated vans; 53-foot reefers; and 53- and 48-foot flatbeds.

The addition of 1,400 new flatbeds in 2019 is the largest flatbed investment by XTRA Lease in several years. The company will add a variety of models, including 53-foot spread-axle straight frame and single-drop flatbeds; 48-foot tandem slider, spread-axle and single-drop flatbeds; 48-foot 40-ton double-drop with hydraulic removable gooseneck, which is new to the XTRA Lease fleet; and 20/40-foot tridem chassis.

New trailers are arriving at XTRA Lease branches now, and new production will continue to occur throughout the year.