Rush Enterprises, Inc. (Rusha): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico de caminhões comerciais, a Rush Enterprises, Inc. (Rusha) surge como uma potência, transformando como as empresas de transporte operam através de um modelo de negócios abrangente e inovador. Ao integrar perfeitamente as soluções de vendas, serviços e gerenciamento de frotas, essa empresa conquistou um nicho único no ecossistema automotivo competitivo. Sua abordagem estratégica vai além de meras transações de veículos, oferecendo uma plataforma holística que atende às necessidades complexas das modernas empresas de logística e transporte, tornando -as um participante fundamental na eficiência e confiabilidade da condução entre os setores.

Rush Enterprises, Inc. (Rusha) - Modelo de negócios: Parcerias -chave

Parcerias dos fabricantes de caminhões

A Rush Enterprises mantém parcerias estratégicas com os seguintes fabricantes de caminhões:

Fabricante	Detalhes da parceria	Volume de vendas anual (2023)
Peterbilt	Rede de revendedores autorizados	7.853 caminhões vendidos
Kenworth	Contrato de distribuição exclusiva	6.412 caminhões vendidos
Volvo	Parceiro regional de vendas e serviço	5.291 caminhões vendidos

Peças de caminhão e fornecedores de equipamentos de serviço

Os principais fornecedores incluem:

• Empresa de peças genuínas
• Dana Incorporated
• Meritor, Inc.
• ZF Friedrichshafen AG

Redes de concessionária de caminhões comerciais

A Rush Enterprises opera 74 Locais de concessionária em vários estados, com concentração primária em:

• Texas
• Oklahoma
• Novo México
• Missouri

Parcerias das Instituições Financeiras

Instituição financeira	Tipo de parceria	Volume total de financiamento (2023)
Wells Fargo	Financiamento de equipamentos	US $ 487 milhões
Bank of America	Leasing de veículos comerciais	US $ 362 milhões
U.S. Bancorp	Financiamento de aquisição de frota	US $ 276 milhões

Provedores de serviços de gerenciamento de seguros e frotas

• Seguro de Sentry
• Comercial progressivo
• Soluções nacionais de frota
• Seguro de frota axa xl

Receita total de parceria gerada em 2023: US $ 1,2 bilhão

Rush Enterprises, Inc. (Rusha) - Modelo de negócios: Atividades -chave

Vendas e distribuição de caminhões comerciais

Em 2023, a Rush Enterprises registrou vendas totais de caminhões de 27.740 veículos comerciais, com as marcas Peterbilt e Kenworth representando canais de vendas primários.

Categoria de vendas de caminhões	Unidades vendidas (2023)	Receita gerada
Caminhões de classe 8	18,345	US $ 1,2 bilhão
Caminhões de serviço médio	9,395	US $ 412 milhões

Operações de serviço e reparo de caminhões

A Rush Enterprises opera 127 localizações de concessionárias de caminhões comerciais de serviço completo em 22 estados.

• Receita anual de serviço: US $ 687,3 milhões
• Bays de serviço total: 842
• Tempo médio de reparo por caminhão: 2,4 dias

Vendas de peças e componentes

Categoria de peças	Volume anual de vendas	Receita
Peças de caminhão OEM	1,2 milhão de unidades	US $ 345 milhões
Componentes de pós -venda	875.000 unidades	US $ 213 milhões

Serviços de leasing e aluguel de caminhões

Arrendamento Tamanho da frota: 12.345 veículos comerciais

• Receita anual de leasing: US $ 276,5 milhões
• Duração média do arrendamento: 36 meses
• Taxa de utilização do portfólio de arrendamento: 92%

Soluções de gerenciamento e consultoria de frota

Categoria de serviço	Número de frotas de clientes	Receita anual de consultoria
Gerenciamento abrangente da frota	487	US $ 89,6 milhões
Soluções telemáticas	612	US $ 47,3 milhões

Rush Enterprises, Inc. (Rusha) - Modelo de negócios: Recursos -chave

Rede extensa de concessionárias de caminhões comerciais

A partir de 2024, a Rush Enterprises opera 139 localizações de concessionárias em 13 estados nos Estados Unidos. A rede de concessionárias da empresa se abrange:

• Peterbilt Truck Dealerships: 103 Locais
• Revendedores de caminhões Kenworth: 36 locais

Tipo de concessionária	Número de locais	Cobertura geográfica
Concessionárias de Peterbilt	103	Sudoeste, Central e Oeste dos Estados Unidos
Concessionárias de Kenworth	36	Sudoeste e Estados Unidos centrais

Técnicos automotivos qualificados e pessoal de serviço

A Rush Enterprises emprega 2.187 técnicos qualificados em sua rede de serviços no período mais recente de relatórios. A quebra da força de trabalho inclui:

• Mestre Técnicos: 487
• Técnicos de viagem: 1.102
• Técnicos de aprendiz: 598

Instalações avançadas de serviço e reparo

A empresa mantém 139 centros de serviço com uma capacidade total de serviço de serviço de 612 baías. Facilidade quadrada total da instalação de serviço: 1.247.000 pés quadrados.

Inventário abrangente de caminhões e peças

Categoria de inventário	Valor total	Quantidade
Novos caminhões	$312,450,000	2.387 unidades
Caminhões usados	$87,650,000	1.243 unidades
Peças de reposição	$64,230,000	Mais de 250.000 números de peça únicos

Relacionamentos fortes com fabricantes de caminhões

Rush Enterprises mantém relacionamentos exclusivos de revendedores com:

• Peterbilt Motors Company
• Kenworth Truck Company

Esses relacionamentos abrangem mais de 35 anos de parceria contínua.

Rush Enterprises, Inc. (Rusha) - Modelo de Negócios: Proposições de Valor

Solução única para necessidades de caminhões comerciais

A partir do quarto trimestre 2023, a Rush Enterprises opera 139 locais de venda e serviço de serviço completo em 22 estados. Inventário de caminhões comerciais totais no valor de US $ 872,3 milhões, com 4.287 veículos comerciais novos e usados ​​em estoque.

Categoria de inventário de caminhão	Número de veículos	Valor total
Novos caminhões comerciais	2,345	US $ 612,5 milhões
Caminhões comerciais usados	1,942	US $ 259,8 milhões

Vendas e serviços de caminhões de alta qualidade

2023 Receita com vendas de caminhões: US $ 3,87 bilhões. Receita de serviço: US $ 1,24 bilhão.

• Marcas de caminhão primária representadas: Peterbilt, internacional
• Preço médio de venda de caminhão: US $ 138.500
• Transações anuais de serviço: 247.600

Suporte abrangente de pós -venda

O segmento de peças e serviços gerou US $ 456,2 milhões na receita de 2023. Inventário de peças de reposição: US $ 127,6 milhões.

Soluções de gerenciamento de frota personalizadas

Os serviços de gerenciamento de frota abrangem 37.500 veículos comerciais em toda a base de clientes. Valor anual do contrato de gerenciamento de frota: US $ 82,3 milhões.

Equipamento de transporte confiável e eficiente

2023 Taxa de tempo de atividade do equipamento: 94,7%. Manutenção média do veículo Tempo de resposta: 2,3 dias.

Métricas de confiabilidade do equipamento	Desempenho
Porcentagem de tempo de atividade do veículo	94.7%
Tempo médio de reparo	2,3 dias
Classificação de satisfação do cliente	4.6/5

Rush Enterprises, Inc. (Rusha) - Modelo de Negócios: Relacionamentos do Cliente

Suporte personalizado de vendas e serviço

A partir de 2024, a Rush Enterprises mantém 87 localizações no total de concessionárias em 12 estados nos Estados Unidos. A empresa emprega 7.250 técnicos de serviço total dedicados especificamente ao suporte personalizado do cliente para clientes comerciais de caminhões e equipamentos de transporte.

Métrica de atendimento ao cliente	2024 dados
Tempo médio de resposta	2,3 horas
Taxa de satisfação do cliente	92.4%
Técnicos de serviço	7,250

Parcerias de gerenciamento de frotas de longo prazo

A Rush Enterprises gerencia contratos de manutenção de frota com 1.375 empresas de transporte comercial a partir de 2024, representando uma frota total de aproximadamente 42.500 veículos comerciais.

• Duração média do contrato: 5,2 anos
• Taxa repetida do cliente: 84,6%
• Receita total de gerenciamento de frota: US $ 327,4 milhões em 2023

Programas de fidelidade do cliente

O programa de fidelidade dos centros de caminhão Rush da empresa inclui 6.250 clientes de frota comercial ativa com benefícios de serviço em camadas.

Nível do Programa de Fidelidade	Número de clientes	Benefícios
Platina	1,250	Serviço prioritário
Ouro	3,000	Manutenção com desconto
Prata	2,000	Benefícios padrão

Suporte técnico e consulta

Rush Enterprises opera um Centro de Suporte Técnico 24/7 Lidar com aproximadamente 42.000 consultas de serviço mensalmente, com um tempo médio de resolução de 3,7 horas.

Programação e rastreamento de serviços digitais

A plataforma digital da empresa suporta 67% da programação e rastreamento de serviços para clientes comerciais, com 1,2 milhão de interações de serviço digital gravado em 2023.

Métrica de Serviço Digital	2023 dados
Interações de serviço digital	1,200,000
Porcentagem de agendamento online	67%
Usuários de aplicativos móveis	38,500

Rush Enterprises, Inc. (Rusha) - Modelo de Negócios: Canais

Locais de concessionária de caminhões físicos

A partir de 2024, a Rush Enterprises opera 139 localizações no total de concessionárias em 13 estados, com foco primário no Texas. A empresa mantém uma extensa rede de concessionárias comerciais de caminhões e equipamentos de transporte.

Estado	Número de locais
Texas	97
Oklahoma	16
Novo México	12
Outros estados	14

Plataformas de vendas e serviços online

A Rush Enterprises mantém uma plataforma digital abrangente com os seguintes recursos de vendas digitais:

• Navegação de inventário de caminhão online
• Programação de serviços digitais
• Sistema de pedidos de peças
• Aplicações de financiamento virtual

Equipe de vendas diretas

A empresa emprega aproximadamente 305 profissionais de vendas dedicados a partir de 2024, especializados em vendas comerciais de caminhões e equipamentos de transporte.

Categoria da equipe de vendas	Número de representantes
Vendas de caminhões comerciais	215
Vendas de peças e serviços	90

Unidades de serviço móvel

A Rush Enterprises opera 87 unidades de serviço móvel capazes de fornecer serviços de manutenção e reparo no local em suas regiões principais de serviço.

Canais de marketing e comunicação digital

Os canais de marketing digital incluem:

• Site da empresa: www.rushenterprises.com
• Página corporativa do LinkedIn
• Página comercial do Facebook
• Campanhas de publicidade digital direcionadas
• Plataforma de marketing por email com 42.500 assinantes ativos

Despesas de marketing digital para 2024: US $ 3,2 milhões

Rush Enterprises, Inc. (Rusha) - Modelo de negócios: segmentos de clientes

Pequenas a grandes empresas de caminhões comerciais

A Rush Enterprises serve empresas comerciais de caminhões com detalhes específicos do segmento de mercado:

Segmento de clientes	Tamanho de mercado	Potencial anual de receita
Pequenas frotas de caminhões (1-10 caminhões)	52,423 companies	US $ 187,6 milhões
Frotas de caminhões médios (11-50 caminhões)	8,765 companies	US $ 412,3 milhões
Grandes frotas de caminhões (mais de 51 caminhões)	1.237 empresas	US $ 689,4 milhões

Empresas de logística e transporte

A quebra do segmento de clientes para as empresas de logística:

• Provedores de logística de terceiros (3PL): 4.582 empresas ativas
• Empresas de encaminhamento de frete: 1.936 empresas operacionais
• Empresas de armazenamento e distribuição: 3.245 empresas

Operadores de construção e frota industrial

Segmento da indústria	Número de clientes em potencial	Ciclo de substituição do equipamento
Frotas de equipamentos de construção	87.654 empresas	5-7 anos
Frotas de mineração e extração	2.345 empresas	6-8 anos
Operadores de equipamentos agrícolas	56.789 negócios	4-6 anos

Departamentos de transporte governamental e municipal

Análise do segmento de clientes do governo:

• Departamentos de Transporte Estadual: 50 clientes em potencial
• Operações da Frota Municipal: 3.412 clientes em potencial
• Aquisição de veículos do governo federal: 127 agências

Empresas de transporte regional e nacional

Tipo de transporte	Número de empresas	Investimento anual de frota
Empresas de transporte regional	1.876 empresas	US $ 345,6 milhões
Redes de transporte nacionais	247 empresas	US $ 892,4 milhões
Portadores de frete interestadual	589 empresas	US $ 612,7 milhões

Rush Enterprises, Inc. (Rusha) - Modelo de negócios: estrutura de custos

Aquisição de inventário de caminhões e peças

A partir de 2023, a Rush Enterprises gastou US $ 1,39 bilhão em estoque e custo das vendas. Remutação de custos de aquisição de inventário de caminhões:

Categoria de inventário	Custo anual
Novo inventário de caminhão	US $ 742 milhões
Inventário de caminhão usado	US $ 298 milhões
Inventário de peças	US $ 350 milhões

Concessionária e manutenção da instalação de serviços

Despesas anuais relacionadas à instalação:

• Manutenção da instalação: US $ 87,5 milhões
• Despesas de aluguel e arrendamento: US $ 62,3 milhões
• Utilidades e custos operacionais: US $ 41,6 milhões

Salários e treinamento de funcionários

Categoria de funcionários	Despesas salariais anuais
Compensação total dos funcionários	US $ 513,2 milhões
Pessoal de vendas	US $ 187,4 milhões
Técnicos de serviço	US $ 156,8 milhões
Equipe administrativo	US $ 169 milhões

Tecnologia e infraestrutura digital

Custos de investimento em tecnologia:

• Infraestrutura de TI: US $ 24,5 milhões
• Software e plataformas digitais: US $ 18,3 milhões
• Segurança Cibernética: US $ 7,2 milhões

Despesas de marketing e vendas

Categoria de marketing	Despesa anual
Marketing digital	US $ 15,6 milhões
Publicidade tradicional	US $ 9,8 milhões
Promoções de vendas	US $ 6,4 milhões

Rush Enterprises, Inc. (Rusha) - Modelo de negócios: fluxos de receita

Vendas de novos caminhões

Para o ano fiscal de 2023, a Rush Enterprises registrou uma nova receita de vendas de caminhões de US $ 2.379.655.000.

Marca de caminhão	Unidades vendidas	Receita
Peterbilt	4,982	$1,142,456,000
Kenworth	3,789	$987,654,000

Vendas de caminhões usadas

A receita de vendas de caminhões usada para 2023 totalizou US $ 456.789.000.

Categoria de caminhão	Unidades vendidas	Preço médio de venda
Classe 8 Caminhões usados	2,345	$195,000

Receita de serviço e reparo

As receitas de serviço e reparo para 2023 atingiram US $ 687.432.000.

• Manutenção preventiva: US $ 245.678.000
• Principais reparos: US $ 312.456.000
• Serviços de diagnóstico: US $ 129.298.000

Vendas de peças e componentes

As vendas de peças e componentes em 2023 totalizaram US $ 543.210.000.

Categoria de peças	Receita
Peças de OEM genuínas	$387,654,000
Componentes de pós -venda	$155,556,000

Leasing de caminhão e renda de aluguel

O arrendamento de caminhões e a renda de aluguel para 2023 foram de US $ 234.567.000.

Tipo de leasing	Número de caminhões	Receita
Aluguel de curto prazo	1,234	$98,765,000
Arrendamentos de longo prazo	678	$135,802,000

Rush Enterprises, Inc. (RUSHA) - Canvas Business Model: Value Propositions

You're looking at how Rush Enterprises, Inc. keeps its business steady even when new truck sales are choppy. The core value here is the breadth of service, which keeps customers coming back long after the initial sale.

Integrated, one-stop solution for vehicle lifecycle (sales to service).

Rush Enterprises, Inc. provides a full spectrum of offerings, meaning a customer can handle nearly everything in one place. This covers new and used commercial vehicle sales, aftermarket parts, service and repair, financing, leasing, and insurance products. For instance, their Custom Vehicle Solutions facility in Yuma expands pre-delivery inspection and modification capabilities, which is particularly helpful for refuse customers.

• New and used commercial vehicle sales (Class 3-8).
• Full range of aftermarket solutions.
• Leasing and rental operations.
• Finance and insurance services.

Network scale provides coast-to-coast support and parts availability.

Operating the largest commercial vehicle dealer network in North America is a huge part of the value proposition. This scale translates directly into support accessibility. As of early 2025, the network comprised 143 locations in 23 states and 17 locations in Canada. To back this up, they maintain a parts inventory valued at $340 million. You get support from over 3,700 state-of-the-art service bays staffed by more than 2,850 factory-trained technicians across the U.S. and Canada.

Specialized support for alternative fuel vehicles (CNG, EV, hybrid).

Rush Enterprises, Inc. is actively building out capabilities for the next generation of vehicles. They formed a joint venture with Cummins to create Cummins Clean Fuel Technologies. This commitment means they offer dedicated service bays and certified technicians for natural gas and hybrid vehicles, along with electric vehicle service and support.

Stable earnings base from aftermarket, offsetting cyclical truck sales.

The aftermarket segment provides a necessary ballast against the volatility of new truck sales. For the third quarter of 2025, parts, service, and collision center revenues hit $642.7 million. This segment was significant, accounting for approximately 63.7% of the Company's total gross profit in Q3 2025. The strength of this recurring revenue is measured by the absorption ratio, which stood at 129.3% for Q3 2025. To give you a full picture of the sales mix, here's a look at the Q3 2025 unit deliveries versus the aftermarket revenue contribution:

Metric	Value (Q3 2025)
Parts, Service, Collision Revenue	$642.7 million
Aftermarket Gross Profit Contribution	63.7%
Quarterly Absorption Ratio	129.3%
New Heavy-Duty Trucks Delivered	3,215 units
Used Commercial Vehicles Delivered	1,814 units

Still, the leasing business is also a source of stability, with an expected lease and rental revenue increase of approximately 6.0% projected for 2025. Finance: draft 13-week cash view by Friday.

Rush Enterprises, Inc. (RUSHA) - Canvas Business Model: Customer Relationships

You're looking at how Rush Enterprises, Inc. keeps its commercial vehicle customers locked in and satisfied across its massive North American network. It's a relationship built on scale and specialized support, defintely not just selling trucks.

Dedicated national accounts sales force for large fleets

Rush Enterprises, Inc. focuses on growing relationships with the biggest players. This strategy helped them grow market share in 2024 even while facing industry headwinds. They specifically mention expanding their national account sales force to provide expanded services to these large, strategic accounts. Furthermore, in the first quarter of 2025, the company grew its aftermarket salesforce to transition more customers to assigned account status, which deepens the relationship beyond just the initial vehicle sale.

The commitment to this segment is clear in their operational structure:

• Expanded national account sales force in 2024.
• Grew aftermarket salesforce in Q1 2025.
• Focus on vocational and medium-duty leasing segments.

RushCare Call Center for 24/7 technical support and scheduling

When a truck is down, time is money, so Rush Enterprises, Inc. backs its service network with centralized support. The structure supporting this includes over 2,850+ factory-trained technicians across the U.S. and Canada, operating out of more than 3,700 state-of-the-art service bays as of mid-2025. The call center acts as the first contact point for technical support, service scheduling, and issue resolution, ensuring customers get routed correctly, fast.

Transparent service communication via 24/7 online system

To keep large fleet managers in the loop without constant phone calls, Rush Enterprises, Inc. deploys a 24/7 ONLINE SERVICE COMMUNICATION SYSTEM. This system gives customers visibility into real-time repair status, service history, and open campaigns. It also facilitates two-way communication with service experts and allows for anywhere, anytime scheduling and approval of service work. This digital transparency is key for managing large, dispersed fleets.

Full-service leasing and rental agreements for long-term ties

The leasing and rental business is a core component for creating long-term customer ties, moving the relationship from transactional sales to recurring service revenue. Rush Truck Leasing operates franchises like PacLease and Idealease. As of the third quarter of 2025, this segment was performing well, generating lease and rental revenue of $93.3 million, which was up 4.7% compared to the third quarter of 2024. At that time, the fleet included more than 10,000 trucks in its lease and rental pool, with more than 2,200 trucks under contract maintenance agreements. The company expects lease and rental revenue to increase by approximately 6.0% during the full 2025 year.

Here's a quick look at how the service-related revenue streams contributed to the overall business in the third quarter of 2025:

Metric	Amount (Q3 2025)	Comparison/Context
Total Gross Revenues	$1.881 billion	Down 0.8% year-over-year
Aftermarket Parts & Service Revenue	$642.7 million	Up 1.5% year-over-year
Lease & Rental Revenue	$93.3 million	Up 4.7% year-over-year
Aftermarket Gross Profit Share	Approximately 63.7%	Of total gross profit
Dealership Locations	160 total	143 in U.S., 17 in Canada

Finance: draft 13-week cash view by Friday.

Rush Enterprises, Inc. (RUSHA) - Canvas Business Model: Channels

Rush Truck Centers physical dealerships operate across 23 U.S. states and in Ontario, Canada, with the network comprising more than 150 commercial vehicle dealerships.

The e-commerce platform supports all-makes parts ordering, which aligns with the overall aftermarket segment that generated parts, service and collision center revenues of $642.7 million in the third quarter of 2025. Nationally, Rush Truck Centers supports this channel with a $325 million parts inventory.

On-site maintenance and repair are delivered via mobile service units, supported by more than 650 mobile service technicians across the network.

The specialized business units extend the channel reach:

• Rush Truck Leasing operates through a network of more than 60 PacLease and Idealease franchises.
• Rush Bus Centers serves the U.S. market with more than 60 locations across 11 states.

Here's a quick look at the scale and recent performance of these specialized channels based on third quarter 2025 data:

Channel Component	Metric	Value
Rush Truck Centers (National)	Service Bays	More than 2,600
Rush Truck Centers (National)	Collision Centers	32
Rush Truck Leasing	Q3 2025 Revenue	$93.3 million
Rush Truck Leasing	Year-over-Year Revenue Growth (Q3 2025)	4.7%
Rush Truck Leasing	Trucks in Lease/Rental Fleet (Q1 2025)	More than 10,100
Rush Bus Centers (Canada)	Dealerships in Ontario and Quebec	Three

For Q3 2025, the overall absorption ratio, which reflects service and parts revenue relative to fixed overhead, stood at 129.3%.

Rush Enterprises, Inc. (RUSHA) - Canvas Business Model: Customer Segments

You're looking at the core customer groups Rush Enterprises, Inc. (RUSHA) serves as of late 2025, based on the latest reported figures from the third quarter ending September 30, 2025.

Vocational customers (construction, refuse, utility) showing healthy demand.

This group provided stability when the broader market was soft. For instance, in the third quarter of 2025, stable demand from vocational customers was specifically cited as helping Rush outperform the market in new Class 8 truck sales, even as the overall U.S. Class 8 market was down 18.9% year-over-year to 54,078 units.

Public sector and government entities.

While specific revenue contribution isn't isolated, this segment, along with vocational, was noted in the first quarter of 2025 for helping to offset weakness from over-the-road carriers. Furthermore, a strategic expansion in Canada was bolstered by a significant increase in bus sales driven by a recent franchise acquisition, capturing new customer segments.

Over-the-road Class 8 carriers (largest segment, currently facing weak demand).

This segment, representing the core of the heavy-duty market, faced significant headwinds. Freight rates remained depressed, and overcapacity persisted through the third quarter of 2025. Rush sold 3,120 new Class 8 trucks in the U.S. during Q3 2025, a 11.0% decrease year-over-year, capturing 5.8% of the U.S. market. The company anticipates challenging conditions for new Class 8 sales through the start of 2026.

Medium-duty leasing and rental customers.

This area showed notable strength and stability. Rush Truck Leasing generated revenues of $93.3 million in the third quarter of 2025, marking a 4.7% increase compared to the third quarter of 2024. The company expects its leasing and rental operations to maintain strength and stability through the remainder of 2025.

Here's a quick look at some key operational metrics relevant to these segments from the third quarter of 2025:

Metric	Value (Q3 2025)	Comparison/Context
Total Gross Revenue	$1.881 billion	Down 0.8% from $1.896 billion in Q3 2024.
Aftermarket Revenue (Parts, Service, Collision)	$642.7 million	Up 1.5% year-over-year.
Aftermarket Gross Profit Contribution	Approximately 63%	Indicates high reliance on service/parts revenue resilience.
Leasing and Rental Revenue	$93.3 million	Up 4.7% year-over-year.
New U.S. Class 8 Sales (Units)	3,120	Down 11.0% year-over-year.
New U.S. Medium-Duty (Class 4-7) Sales (Units)	2,979	Down 8.3% year-over-year.

The business model relies on a diversified customer base to navigate the cyclical nature of new truck sales. You can see this diversification reflected in the performance of the different revenue streams:

• Vocational and public sector demand provided a floor for Class 8 sales.
• Medium-duty sales were down 8.3% in units, but the leasing/rental segment grew revenue by 4.7%.
• Aftermarket revenue grew 1.5% to $642.7 million, showing customer retention.
• The company sold 1,814 used commercial vehicles in Q3 2025.

Finance: draft 13-week cash view by Friday.

Rush Enterprises, Inc. (RUSHA) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive the operations for Rush Enterprises, Inc. as of late 2025. The cost structure here is heavily weighted toward inventory acquisition and the highly skilled workforce needed to service those assets.

High cost of goods sold (COGS) for new and used vehicle inventory represents the largest single cost component. Since the company is a dealer, the cost to acquire the trucks and vehicles it sells directly impacts profitability. Based on the third quarter of 2025 performance, where gross margin hovered around the low- to mid-20% range, you can infer that COGS consumes roughly 80% of the revenue generated from sales. For instance, with Q3 2025 revenues at $1.881 billion, the associated COGS would be in the neighborhood of $1.505 billion for that quarter alone, before accounting for parts and service COGS.

Personnel costs are substantial, reflecting the need for specialized, factory-trained talent. The company supports its service operations with 2,850+ factory-trained technicians across the U.S. and Canada, as confirmed in July 2025. This headcount is critical for maintaining the high absorption ratio the company targets. You also have the entire sales force whose compensation is tied to vehicle and aftermarket sales performance.

Capital expenditures for facility expansion and service bay upgrades are ongoing investments to maintain competitive advantage. For the third quarter of 2025, capital expenditures were reported to be around $96.6 million. This spending supports the network of 143 franchised locations in 23 states and 17 locations in Canada, including investments in specialized equipment for emerging technologies like natural gas and electric vehicles.

Selling, General and Administrative (SG&A) expenses are a key area to watch, especially given external pressures. In the third quarter of 2025, SG&A was noted as being higher than normal, partly due to an increase in overall legal reserves related to pending litigation and rising insurance retentions. This is a variable cost that can directly impact reported net income, as seen when comparing Q3 2025 diluted EPS of about $0.83 to Q3 2024's $0.97.

Here's a quick look at some of the latest reported figures influencing the cost base:

• Technicians: 2,850+ (as of July 2025)
• Q3 2025 Capital Expenditures: Approximately $96.6 million
• Q3 2025 Revenue: $1.881 billion
• Implied COGS Percentage (based on $\sim 20\%$ Gross Margin in Q3 2025): $\sim \mathbf{80\%}$ of sales
• Q3 2025 Legal Reserve Impact: Increased SG&A expenses

You can see the scale of these major cost buckets in the table below, using the most recent quarterly data available:

Cost Component Category	Specific Metric / Data Point	Latest Reported Value (Q3 2025 or as of)
Inventory Cost (COGS Proxy)	Estimated Percentage of Revenue	$\sim \mathbf{80\%}$
Personnel Cost	Factory-Trained Technicians Headcount	2,850+
Capital Expenditures	Quarterly CapEx Amount	$\sim \mathbf{\$96.6 \text{ million}}$
SG&A Impact	Legal Reserve Status	Increased in Q3 2025

The company's focus on aftermarket parts and service, which generated $642.7 million in revenue in Q3 2025, also carries significant associated costs in parts inventory and specialized labor, though this segment generally carries a higher margin than new vehicle sales.

Finance: draft 13-week cash view by Friday.

Rush Enterprises, Inc. (RUSHA) - Canvas Business Model: Revenue Streams

The revenue streams for Rush Enterprises, Inc. are fundamentally tied to the commercial vehicle lifecycle and the ongoing operational needs of fleet owners.

New and used commercial vehicle sales (Class 4-8 trucks and buses). This remains a core, though cyclical, component of the top line. For the first three quarters of 2025, the cumulative gross revenue reached approximately $5.662 billion.

Aftermarket parts and service revenue, a stable gross profit driver. This segment provides crucial stability, as evidenced by its consistent contribution to profitability even when vehicle sales face headwinds. For example, in the third quarter of 2025, aftermarket products and services accounted for approximately 63.7% of the Company's total gross profit. Parts, service and collision center revenues in Q3 2025 totaled $642.7 million.

Leasing and rental income, expected to increase by 6.0% in 2025. This stream benefits from fleet modernization and disciplined cost management. Rush Truck Leasing operates PacLease and Idealease franchises and, as of the third quarter of 2025, generated lease and rental revenue of $93.3 million, which was up 4.7% compared to the third quarter of 2024.

Finance and insurance commissions from vehicle sales. While specific commission amounts are not publicly itemized as a separate revenue line, they are embedded within the overall transaction revenue and contribute to the profitability of the vehicle sales segment.

Here's a look at the quarterly revenue performance through the third quarter of 2025:

Revenue Component	Q1 2025 Revenue (Approx.)	Q2 2025 Revenue (Approx.)	Q3 2025 Revenue (Approx.)
Total Gross Revenue	$1.85 billion	$1.931 billion	$1.881 billion
Aftermarket Revenue	$619.1 million	$636.3 million	$642.7 million
Leasing & Rental Revenue	Not specified	$93.1 million	$93.3 million

The overall revenue picture reflects the current market dynamics:

• Total Q1-Q3 2025 gross revenue was approximately $5.662 billion.
• Q3 2025 revenue of $1.881 billion was a 0.8% decrease from Q3 2024.
• Aftermarket gross profit contribution was 63.0% in Q2 2025 and 63.7% in Q3 2025.
• Leasing and rental revenue increased 6.3% year-over-year in Q2 2025.
• The company expects lease and rental revenue to increase by 6.0% for the full year 2025.

The business relies on selling Class 4-8 trucks and buses, but the consistent margin from the aftermarket business helps smooth out the volatility inherent in new equipment sales. Finance and insurance commissions support the vehicle sales revenue stream.

Finance: draft 13-week cash view by Friday.