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

No mundo dinâmico de caminhões comerciais, a Rush Enterprises, Inc. (RushB) surge como uma potência, revolucionando como as empresas de transporte adquirem, mantêm e otimizam suas soluções de frota. Com um modelo de negócios abrangente que abrange vendas de caminhões, serviços e suporte estratégico, esta empresa inovadora criou um nicho único no mercado competitivo de veículos comerciais, oferecendo soluções de ponta a ponta que vão muito além dos modelos de concessionária tradicionais. De pequenas operadoras locais a grandes empresas nacionais de caminhões, a Rush Enterprises oferece uma abordagem transformadora à infraestrutura de transporte comercial que promete eficiência, confiabilidade e crescimento estratégico.

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

Parcerias dos fabricantes de caminhões

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

Fabricante	Detalhes da parceria	Volume de vendas (2023)
Peterbilt	Rede de concessionária autorizada	4.372 caminhões comerciais
Kenworth	Representação de vendas exclusiva	3.891 caminhões comerciais
Volvo	Parceria de distribuição regional	2.845 caminhões comerciais

Redes de concessionária de caminhões comerciais

A Rush Enterprises opera uma extensa rede de concessionárias em vários estados:

• Total de concessionária Locais: 129
• Cobertura geográfica: 12 estados
• Vendas anuais de caminhões: 11.108 unidades

Provedores de serviços de gerenciamento de frota

Provedor de serviços	Escopo da parceria	Valor anual do contrato
Samsara	Rastreamento e gerenciamento de frota	US $ 4,2 milhões
Verizon Connect	Soluções telemáticas	US $ 3,7 milhões

Instituições financeiras para financiamento de equipamentos

Principais parcerias financeiras para financiamento de equipamentos:

• Finanças do Equipamento Fargo da Wells: Linha de Crédito de US $ 125 milhões
• Empréstimo comercial do Bank of America: US $ 98 milhões de contrato de financiamento
• CIT Bank: US $ 82 milhões de parceria de leasing de equipamentos

Redes de serviço de manutenção e reparo de caminhões

Rede de serviços	Cobertura de serviço	Receita anual de serviço
Centros de caminhão Rush	Rede de manutenção interna	US $ 342 milhões
TravelCenters of America	Parceria de Manutenção Estratégica	US $ 47 milhões

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

Vendas e distribuição de caminhões comerciais

Em 2023, a Rush Enterprises vendeu 29.207 veículos comerciais, gerando US $ 2,87 bilhões em receita de vendas de caminhões. A empresa representa várias marcas de caminhões, incluindo Peterbilt, Kenworth e outros fabricantes de veículos comerciais.

Marca de caminhão	Unidades vendidas (2023)	Receita ($ m)
Peterbilt	16,542	1,624
Kenworth	12,665	1,246

Operações de serviço e reparo de caminhões

A Rush Enterprises opera 139 locais de concessionária de veículos comerciais de serviço completo em 22 estados. Em 2023, as operações de serviço e reparo geraram US $ 1,15 bilhão em receita.

• 139 Locais do centro de serviço
• Mais de 2.500 técnicos certificados
• Valor médio da ordem de reparo: US $ 1.287

Vendas de peças e componentes

As vendas de peças atingiram US $ 456 milhões em 2023, representando um fluxo crítico de receita para a empresa.

Categoria de peças	Receita ($ m)
Peças OEM	312
Peças de reposição	144

Consultoria de Gerenciamento de Frota

A Rush Enterprises fornece soluções abrangentes de gerenciamento de frotas para 3.742 clientes de frota comercial em 2023, gerando receita de consultoria de US $ 87 milhões.

• 3.742 clientes de gerenciamento de frotas ativos
• Tamanho médio da frota gerenciado: 47 veículos
• Os serviços de consultoria incluem otimização de manutenção e eficiência da frota

Remarketing de caminhão usado e revenda

Em 2023, a Rush Enterprises vendeu 8.215 veículos comerciais usados, gerando US $ 412 milhões em receita de vendas de caminhões usados.

Categoria de caminhão usado	Unidades vendidas	Receita ($ m)
Caminhões de classe 8	5,642	298
Caminhões de serviço médio	2,573	114

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

Rede extensa de concessionárias de caminhões

A partir de 2024, a Rush Enterprises opera 126 Locais de concessionária Em vários estados, principalmente no sudoeste e no centro dos Estados Unidos.

Estado	Número de concessionárias
Texas	78
Novo México	22
Oklahoma	16
Kansas	10

Inventário de caminhão comercial

Rush Enterprises mantém um inventário de caminhão abrangente avaliado em US $ 487,3 milhões A partir do quarto trimestre 2023.

• Novos caminhões comerciais: 3.245 unidades
• Caminhões comerciais usados: 2.812 unidades
• Marcas de caminhão: Peterbilt, Kenworth, Internacional

Pessoal de serviço e instalações

A empresa emprega 2.673 técnicos e pessoal de serviço em toda a sua rede.

Categoria de pessoal	Número de funcionários
Mestre técnico	612
Técnicos de viagem	1,184
Técnicos de aprendiz	877

Instalações de serviço e reparo

A Rush Enterprises opera 94 centros de serviço e reparo dedicados com metragem quadrada total da instalação de 1,2 milhão de pés quadrados.

Reputação da marca

Métricas financeiras refletindo a força da marca:

• Capitalização de mercado: US $ 2,6 bilhões
• Receita anual (2023): US $ 3,1 bilhões
• Lucro líquido (2023): US $ 187,4 milhões

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

Soluções de caminhões comerciais complementares abrangentes

A Rush Enterprises opera 139 locais de concessionária de veículos de varejo de serviço completo em 17 estados a partir de 2023. As soluções de caminhões comerciais da empresa geraram US $ 8,4 bilhões em receita total em 2022.

Categoria de serviço	Receita anual	Quota de mercado
Vendas de caminhões comerciais	US $ 5,2 bilhões	22.3%
Serviço & Manutenção	US $ 2,6 bilhões	18.7%
Distribuição de peças	US $ 600 milhões	15.5%

Vendas de caminhões de alta qualidade com suporte de serviço confiável

Rush Enterprises represents multiple truck brands including:

• Peterbilt
• Kenworth
• Internacional
• Hino

Flexible Financing Options for Truck Purchases

A Rush Enterprises oferece várias estratégias de financiamento, com US $ 1,3 bilhão no portfólio de financiamento total a partir do quarto trimestre 2022.

Tipo de financiamento	Valor total	Termo médio
Empréstimos de caminhões comerciais	US $ 875 milhões	60 meses
Financiamento de arrendamento	US $ 425 milhões	36 meses

Serviços de manutenção e reparo eficientes

O Rush opera 139 centros de serviço com mais de 1.200 técnicos certificados. A receita anual de serviço atingiu US $ 2,6 bilhões em 2022.

Ampla gama de marcas e modelos de caminhões

O inventário inclui mais de 4.500 veículos comerciais em vários classes de peso e configurações.

Categoria de caminhão	Contagem de estoque	Faixa de preço
Classe 4-5 caminhões	1.200 unidades	$50,000 - $85,000
Caminhões da classe 6-7	1.800 unidades	$85,000 - $150,000
Caminhões de classe 8	1.500 unidades	$130,000 - $250,000

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

Suporte personalizado de vendas e serviço

A Rush Enterprises mantém 135 locais de concessionária de caminhões e ônibus com serviço completo em 14 estados. Em 2022, a empresa relatou 1.214 técnicos de serviço dedicados ao suporte personalizado do cliente.

Métrica de atendimento ao cliente	2022 Performance
Tempo médio de resposta ao atendimento ao cliente	2,3 horas
Classificação de satisfação do cliente	4.6/5.0
Interações anuais de serviço	87,654

Parcerias de gerenciamento de frotas de longo prazo

A Rush Enterprises atende 4.237 clientes de frota comercial a partir do quarto trimestre 2023, com 78% de manutenção de contratos de serviço plurianual.

• Duração média da parceria da frota: 5,2 anos
• Taxa de retenção de clientes da frota: 92,3%
• Total de veículos de frota sob gestão: 42.156

Programas de fidelidade do cliente

O programa de fidelidade dos centros de caminhões Rush da empresa inclui 22.345 membros ativos da frota comercial em 2023.

Métrica do Programa de Fidelidade	2023 dados
Membros do programa de fidelidade	22,345
Gastos médios anuais por membro	$87,600
Taxa de renovação do programa	85.7%

Plataformas de agendamento de serviços digitais

A Rush Enterprises Digital Platform processou 64.322 compromissos de serviço on -line em 2022, representando 42% do agendamento total de serviços.

Gerenciamento de conta dedicado para grandes clientes de frota

A empresa mantém 187 gerentes de contas dedicados para clientes de frotas de nível corporativo, atendendo a organizações com mais de 50 veículos comerciais.

Gerenciamento da frota corporativa	2023 Estatísticas
Gerentes de conta dedicados	187
Grandes clientes de frota	342
Valor médio anual do contrato	$1,245,000

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

Locais de concessionária de caminhões físicos

A partir de 2024, a Rush Enterprises opera 138 localizações no total de concessionárias em 22 estados, principalmente no sudoeste e no meio -oeste dos Estados Unidos.

Estado	Número de concessionárias	Regiões primárias
Texas	87	Houston, Dallas, San Antonio
Oklahoma	19	Oklahoma City, Tulsa
Novo México	12	Albuquerque, Santa Fe

Vendas on -line e plataformas de inventário

A Rush Enterprises mantém uma plataforma abrangente de inventário digital com 7.247 veículos comerciais listados on -line a partir do quarto trimestre 2023.

• Site: www.rushenterprises.com
• Recursos de navegação de inventário digital
• Rastreamento de disponibilidade de veículos em tempo real
• Aplicativo de financiamento online

Representantes de vendas diretas

A Rush Enterprises emprega 672 representantes de vendas diretas em janeiro de 2024, com um volume médio de vendas de US $ 3,2 milhões por representante anualmente.

Categoria da equipe de vendas	Número de representantes	Vendas médias anuais
Vendas de caminhões comerciais	412	US $ 3,6 milhões
Vendas de peças e serviços	260	US $ 2,8 milhões

Unidades de suporte de serviço móvel

A Rush Enterprises opera 214 unidades de suporte a serviços móveis em seus territórios de serviço em 2024.

• Tempo médio de resposta: 2,3 horas
• Disponibilidade de serviço de emergência 24/7
• Recursos de reparo técnico especializados

Canais de marketing e comunicação digital

O orçamento de marketing digital para 2024 é projetado em US $ 4,7 milhões com estratégias de engajamento multicanais.

Canal digital	Engajamento mensal	Propósito primário
LinkedIn	87.500 seguidores	Marketing B2B
Facebook	62.300 seguidores	Reconhecimento da marca
YouTube	41.200 assinantes	Demonstrações de produtos

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

Empresas de caminhões regionais e nacionais

A partir do quarto trimestre de 2023, a Rush Enterprises atende aproximadamente 3.750 empresas de caminhões regionais e nacionais nos Estados Unidos.

Característica do segmento	Dados quantitativos
Tamanho total da frota servido	42.600 veículos comerciais
Receita média anual por cliente	US $ 1,2 milhão
Penetração de mercado	18,3% do mercado nacional de frotas de caminhões

Operadores de frota de pequeno a médio porte

A Rush Enterprises tem como alvo pequenos a operadores de frota de tamanho médio com soluções de serviço especializadas.

• Total de pequenos clientes de frota: 2.350
• Tamanho médio da frota: 15-50 veículos
• Receita anual de serviço deste segmento: US $ 287 milhões

Empresas de construção e logística

A Rush Enterprises fornece soluções abrangentes de veículos comerciais para setores de construção e logística.

Segmento da indústria	Contagem de clientes	Veículo total com manutenção
Empresas de construção	1,100	16.750 veículos
Empresas de logística	890	12.400 veículos

Provedores de transporte agrícola

A Rush Enterprises apóia o transporte agrícola com serviços especializados de veículos comerciais.

• Total de Transporte Agrícola Clientes: 620
• Receita especializada em serviços de veículos agrícolas: US $ 94,5 milhões
• Tamanho médio da frota neste segmento: 22 veículos

Departamentos de transporte governamental e municipal

A Rush Enterprises atende aos departamentos de transporte governamental e municipal em todo o país.

Segmento do governo	Contagem de clientes	Total de veículos atendidos
Departamentos estaduais de transporte	47	3.200 veículos
Autoridades municipais de trânsito	89	2.750 veículos

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

Custos de aquisição de inventário de caminhões

A partir de 2023 Relatórios financeiros, a Rush Enterprises investiu US $ 1,2 bilhão em aquisição de inventário de caminhões. A quebra de custo do inventário de caminhões da empresa inclui:

Categoria de caminhão	Custo de aquisição
Caminhões comerciais	US $ 752 milhões
Caminhões especializados	US $ 348 milhões
Inventário de caminhão usado	US $ 100 milhões

Concessionária e manutenção da instalação de serviços

As despesas totais de manutenção da instalação para 2023 foram de US $ 87,4 milhões, incluindo:

• Reparação e reforma da instalação: US $ 42,6 milhões
• Utilitários e infraestrutura: US $ 23,8 milhões
• Manutenção de equipamentos: US $ 21 milhões

Salários e treinamento de funcionários

O total de despesas relacionadas ao pessoal em 2023 atingiu US $ 614,3 milhões:

Categoria de despesa	Quantia
Salários da base	US $ 482,6 milhões
Programas de treinamento	US $ 18,7 milhões
Benefícios e compensação	US $ 113 milhões

Despesas de marketing e vendas

As despesas de marketing e vendas para 2023 totalizaram US $ 76,5 milhões:

• Marketing Digital: US $ 24,3 milhões
• Publicidade tradicional: US $ 32,2 milhões
• Eventos e promoções de vendas: US $ 20 milhões

Investimentos de tecnologia e infraestrutura digital

O investimento em tecnologia para 2023 foi de US $ 53,6 milhões, distribuído da seguinte maneira:

Categoria de tecnologia	Investimento
Desenvolvimento da plataforma digital	US $ 22,4 milhões
Infraestrutura de segurança cibernética	US $ 15,2 milhões
Atualização de sistemas de TI	US $ 16 milhões

Rush Enterprises, Inc. (Rushb) - 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 $ 2.370.000.000.

Marca de caminhão	Volume de vendas	Receita ($)
Peterbilt	7.845 unidades	1,456,000,000
Kenworth	6.232 unidades	914,000,000

Vendas de caminhões usadas

A receita de vendas de caminhões usada para 2023 totalizou US $ 512.000.000.

Categoria de caminhão usado	Volume de vendas	Preço médio ($)
Classe 8 Caminhões usados	3.675 unidades	139,273

Receita de serviço e reparo

O segmento de serviço e reparo gerou US $ 845.000.000 em 2023.

• Receita do Serviço de Manutenção: US $ 456.000.000
• Receita de serviço de reparo: US $ 389.000.000

Vendas de peças e componentes

As vendas de peças e componentes atingiram US $ 678.000.000 em 2023.

Categoria de peças	Receita ($)
Peças OEM	412,000,000
Peças de reposição	266,000,000

Financiamento e renda de leasing

O financiamento e a renda de leasing para 2023 foi de US $ 187.000.000.

Tipo de financiamento	Renda ($)
Leasing de caminhão	124,000,000
Serviços de financiamento	63,000,000

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

Integrated one-stop solution for commercial vehicle lifecycle needs.

• Sales of new and used commercial vehicles.
• Aftermarket parts, service, and collision center operations.
• Financing, insurance, leasing, and rental services.

North American network scale for consistent service and parts availability.

Rush Enterprises, Inc. operates the largest commercial vehicle dealership network in North America. This scale supports parts availability, evidenced by a parts inventory of $340 million in genuine OEM and aftermarket parts for all makes and models. The network includes:

• 143 locations in 23 states.
• 17 locations in Canada.

Full-service leasing to reduce customer operating costs and fleet age.

The leasing and rental segment, operating PacLease and Idealease franchises, provides stability, with Q3 2025 Lease and rental revenue reaching $93.3 million, an increase of 4.7% compared to Q3 2024. This operation manages a fleet of more than 10,000 trucks under its lease and rental agreements, with more than 2,200 trucks under contract maintenance agreements as of Q3 2025. This strategy is noted for decreasing customer fleet age and lowering operating costs.

Diversified product mix across heavy, medium, and light-duty trucks.

The business model captures sales across the commercial vehicle spectrum. For the quarter ended June 30, 2025, unit deliveries included:

Vehicle Type	Units Delivered (Q2 2025)
New Heavy-Duty Trucks	3,259
New Medium-Duty Commercial Vehicles	3,803
New Light-Duty Commercial Vehicles	703
Used Commercial Vehicles	1,715

Specialized vehicle up-fitting and alternative fuel solutions (CNG).

Rush Enterprises, Inc. supports emerging technologies through its investment in Cummins Clean Fuel Technologies, Inc., offering CNG fuel systems. The company has made facility upgrades and technician training investments to support these specialized vehicles. As of 2025, the network has more than 290 natural gas-certified technicians ready for service and repair.

Here's a quick look at the scale of the integrated model based on Q3 2025 performance:

Financial Metric	Amount (Q3 2025)
Gross Revenues	$1.881 billion
Aftermarket Products and Services Revenues	$642.7 million
Net Income	$66.7 million
Earnings Per Diluted Share	$0.83

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

You're looking at how Rush Enterprises, Inc. keeps its commercial vehicle customers locked in, which is key when the new Class 8 truck market is soft, as seen by the 11.0% year-over-year decrease in U.S. Class 8 sales in the third quarter of 2025, with 3,120 units delivered that quarter.

Dedicated account management for large fleet and vocational customers

Rush Enterprises, Inc. focuses on assigning dedicated resources to its largest customers, which is crucial given that vocational and public sector demand has been healthier than over-the-road demand. The company grew its aftermarket salesforce in the first quarter of 2025 specifically to transition more customers to an assigned account status. This dedicated approach supports the business segments that remain strong; for instance, in Q3 2025, aftermarket products and services accounted for 63.7% of the Company's total gross profit.

High-touch, long-term relationships via full-service maintenance contracts

The long-term stickiness comes from service agreements, especially through Rush Truck Leasing. As of Q3 2025, Rush Truck Leasing had more than 2,200 trucks under contract maintenance agreements, supporting a lease and rental fleet of over 10,000 trucks. This segment delivered record revenues of $93.3 million in Q3 2025, marking a 4.7% increase compared to Q3 2024. The focus on a modernized fleet within leasing also lowers operating costs for the customer, which helps secure these long-term service relationships.

Transactional sales for new and used truck purchases

While service builds the relationship, the initial transaction is still a core interaction. For context on the scale of these transactions, in the full year 2024, Rush Enterprises, Inc. sold 15,465 new Class 8 trucks and 13,935 new medium-duty commercial vehicles. Used commercial vehicle sales for that same year totaled 7,110 units. In Q3 2025 alone, the company delivered 3,120 new heavy-duty trucks in the U.S. and sold 1,814 used commercial vehicles. The company maintains a broad physical presence to facilitate these sales, operating 143 franchised locations across 23 states and 17 locations in Canada as of mid-2025.

Customer support through mobile service and Xpress services

Keeping the fleet running is paramount, and Rush Enterprises, Inc. supports this with specialized, rapid service offerings. The company highlights its commitment to strategic aftermarket initiatives like its planned maintenance, Xpress services, and mobile service offerings, which helped drive service and body shop revenues in late 2024. To support this, Rush Enterprises, Inc. offers more than 3,700 state-of-the-art service bays, staffed by over 2,850+ factory-trained technicians across the U.S. and Canada as of July 2025. These technicians provide on-the-road or at-customer-facility support.

Building trust through operational discipline and service excellence

Trust is quantified through consistent performance, even in a tough market. The absorption ratio, which measures service and body shop gross profit against fixed overhead, is a key metric here; the ratio stood at 129.3% in Q3 2025. This ratio was 135.5% in Q2 2025 and 128.6% in Q1 2025. Management explicitly cites operational discipline and expense management as reasons for confidence in returning capital to shareholders, such as the declared Q3 2025 cash dividend of $0.19 per share.

Here's a quick look at the scale of the aftermarket focus, which is central to customer retention:

Metric	Q3 2025 Value	Comparison Point
Aftermarket Revenue	$642.7 million	Up 1.5% year-over-year (Q3 2024: $633.0 million)
Aftermarket Gross Profit Contribution	63.7%	Up from 63.0% in Q2 2025
Service Bays	More than 3,700	Supported by over 2,850+ technicians
Absorption Ratio	129.3%	Down from 135.5% in Q2 2025

The company's strategy involves using its scale-with 17 International dealerships in 5 states added in 2021 and new locations in 2024-to deliver consistent service quality across its network.

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

Rush Truck Centers physical dealership locations across 23 US states and Ontario, Canada, form the primary physical touchpoint for sales and service. As of the third quarter of 2025 announcements, Rush Truck Centers operates more than 150 commercial vehicle dealerships in North America.

The scale of the physical and leasing channels can be seen in the following snapshot:

Channel Component	Metric	Latest Reported Number (as of late 2025)	Source Period
Rush Truck Centers	Total Locations	More than 150	Q3 2025
Rush Truck Centers	US States Covered	23	Q3 2025
Rush Truck Centers	Canadian Presence	Ontario, Canada	Q3 2025
Rush Truck Leasing	Total Fleet Size (Lease/Rental)	More than 10,000	Q2 2025
Rush Truck Leasing	Contract Maintenance Trucks	More than 2,000	Q2 2025
Rush Truck Leasing	Q2 2025 Revenue	$93.1 million	Q2 2025
Digital Channels	Q3 2025 Aftermarket/Service Revenue	$642.7 million	Q3 2025

Rush Truck Leasing division provides fleet and rental services, operating PacLease and Idealease franchises across the United States and Canada. As of the second quarter of 2025, the lease and rental fleet stood at more than 10,000 trucks.

Mobile service units provide on-site maintenance and repair capabilities, supporting the service offering which generated parts, service and collision center revenues of $642.7 million in the third quarter of 2025. The company supports this with more than 3,700 state-of-the-art service bays across the U.S. and Canada.

Digital platforms support customer interaction for parts and service scheduling. These include:

• Easy-to-use, e-commerce parts ordering interface.
• SERVICE CONNECT COMMUNICATION PORTAL for 24/7 online service communication.
• Visibility to real-time repair status.

The direct sales force targets specific customer types, as evidenced by the strength in sales to vocational and public sector customers helping to offset softness in other areas during the first quarter of 2025. The company sold 448 Class 5 through 7 commercial vehicles in Canada during the third quarter of 2025, partly due to a recent IC Bus franchise acquisition.

The parts inventory supporting these channels is substantial:

• $340 million in genuine OEM and aftermarket parts inventory.
• All-makes parts catalog with more than 16,000 popular products.

Finance: draft next quarter's cash flow projection by end of month.

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

You're looking at the customer base for Rush Enterprises, Inc. as of late 2025, which is heavily reliant on commercial vehicle operators across several distinct categories.

Over-the-road (OTR) carriers represent the largest segment, but this group has been a source of near-term weakness. The ongoing freight recession and depressed freight rates have caused OTR carriers to delay vehicle acquisition and maintenance decisions throughout 2025. For the year ended December 31, 2024, this segment had an outsized impact, translating to weak demand for new Class 8 trucks.

Conversely, demand for new Class 8 trucks from other segments has provided a buffer. Specifically, demand from:

• Vocational customers (e.g., construction, refuse, energy, agriculture) remains healthy.
• Public sector and municipal fleets also show continued healthy demand for new Class 8 trucks.

Medium-duty commercial vehicle operators (Class 4-7) are another core group. While industry sales contracted in Q1 2025 compared to the prior year, Rush Enterprises, Inc. sales remained relatively steady, outperforming the industry in that quarter. The company delivered 3,803 new medium-duty commercial vehicles in the second quarter of 2025. Management projects medium-duty commercial vehicle sales to remain stable through the remainder of 2025.

Small to large fleet operators seeking full-service leasing are a segment showing growth. Rush Truck Leasing achieved record revenues in the third quarter of 2025, and the company expects lease and rental revenue to increase by approximately 6.0% in 2025.

Here's a look at the recent sales and leasing activity across key customer-facing metrics:

Metric	Period Ending September 30, 2025 (Q3 2025)	Period Ending June 30, 2025 (Q2 2025)	Full Year 2024
New Class 8 Trucks Sold (U.S.)	3,120 units	3,178 units	15,465 units
New Class 4-7 Commercial Vehicles Sold (U.S.)	Not explicitly stated for Q3 2025 U.S. only	3,626 units	13,935 units
Used Commercial Vehicles Sold	1,814 units	1,715 units	7,110 units
Rush Truck Leasing Revenue	$93.3 million	Not explicitly stated for Q2 2025	Not explicitly stated for full year 2024

The leasing and rental fleet itself is a key asset supporting this segment. Rush Truck Leasing operates more than 10,000 trucks in its lease and rental fleet.

For the third quarter of 2025, the company delivered 3,215 new heavy-duty trucks and 3,427 new medium-duty commercial vehicles.

Finance: draft 13-week cash view by Friday.

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

You're looking at the core expenses that drive the operations for Rush Enterprises, Inc. as of late 2025. For a massive dealership network, the costs are heavily weighted toward inventory acquisition and the people who sell and service those trucks. Honestly, managing the cost of capital for that inventory is a constant balancing act.

Cost of Goods Sold (COGS) for New/Used Trucks and Parts Inventory

The largest component of cost structure is the cost associated with the vehicles and parts sold. For the full year ended December 31, 2024, the Total Cost of Revenue for Rush Enterprises, Inc. was approximately $6,273 million. This massive figure directly reflects the cost of the commercial vehicles and the inventory held for parts and service operations.

Here's a breakdown of the major components contributing to the cost of products sold for the year ended December 31, 2024 (in thousands):

Cost Component	Amount (USD Thousands)	Approximate USD Millions
New and used commercial vehicle sales cost	4,426,292	4,426.3
Parts and service sales cost	1,591,510	1,591.5
Lease and rental cost	255,528	255.5

Significant Personnel Costs for Technicians and Sales Staff

The people who keep the trucks running and those who close the deals represent a substantial fixed and variable cost. While direct personnel costs are embedded within other line items, the Selling, General & Admin Expense (SG&A) for the full year 2024 was $996 million. This covers much of the non-direct labor costs associated with running the sales and service operations across the network.

The overall overhead for the entire operation, which includes personnel, is reflected in the Total Operating Expenses for 2024, which totaled $1,063 million. You can see the absorption ratio, a key metric for service department efficiency, was 132.2% for the full year 2024.

Capital Expenditures for Leasing Fleet Additions

Maintaining and growing the lease fleet is a capital-intensive activity. For 2025, management has planned capital expenditures for leasing fleet additions in the range of $200 million to $250 million. [cite: User provided range] This investment aims to keep the fleet modern; for example, in the second half of 2024, the company replaced approximately 1,500 units in its leasing fleet. As of the third quarter of 2025, Rush Truck Leasing operates with more than 10,000 trucks in its lease and rental fleet.

Operating Expenses for the Defintely Large Dealership Network

Operating a large network means significant recurring costs for facilities, utilities, insurance, and general overhead. The Total Operating Expenses for the year ended December 31, 2024, stood at $1,063 million. This covers the cost of running dozens of physical locations.

Key operating expense metrics from recent periods include:

• Selling, General & Admin Expense (2024 Annual): $996 million.
• Depreciation Expense (2024 Annual): $69 million.
• Lease and rental revenue in Q3 2025 was $93.3 million.

Interest Expense on Floor Plan Financing and Long-Term Debt

Financing inventory is a major cost driver. The Interest Expense for the full year 2024 was $72 million. This expense is primarily driven by the Floor Plan Notes Payable (FPNP) used to finance new and used inventory, which management views as an interest-bearing accounts payable. The company has the capacity to finance its entire lease and rental fleet, but may only partially finance it based on business conditions.

To give you context on the debt structure that drives this expense, here are some figures from the end of 2023:

• Floor plan notes payable (as of Dec 31, 2023): $1,125,373 thousand (or $1.13 billion).
• Long-term debt, net of current maturities (as of Dec 31, 2023): $245,277 thousand (or $245.3 million).

Finance: draft 13-week cash view by Friday.

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

You're looking at the core ways Rush Enterprises, Inc. brings in cash as of late 2025. It's a mix, but the service side is definitely carrying a heavy load right now.

Aftermarket parts and service sales accounted for approximately 63.7% of the Company's total gross profit in the third quarter of 2025. This segment, which covers parts, service, and collision center work, generated revenues totaling $642.7 million in Q3 2025, showing a 1.5% increase compared to the third quarter of 2024. This resilience is key when new truck sales are choppy. The dealership operations also use a metric called the absorption ratio, which was 129.3% in Q3 2025.

New and used commercial vehicle sales cover the heavy, medium, and light-duty spectrum. Honestly, the new truck market, especially for Class 8, faced challenging conditions in Q3 2025 due to depressed freight rates and regulatory uncertainty. Still, the company saw modest gains in light-duty vehicle sales. Used truck sales remained a relatively stable component.

Leasing and rental income provides a more predictable stream. For the third quarter of 2025, Rush Truck Leasing brought in revenue of $93.3 million, which was up 4.7% year-over-year. Rush Truck Leasing operates franchises like PacLease and Idealease across the U.S. and Canada, managing more than 10,000 trucks in its lease and rental fleet.

Financial services revenue is the fourth major pillar, covering the necessary add-ons for customers. This includes:

• Financing arrangements for vehicle purchases.
• Insurance products offered at the point of sale.
• Warranty products that extend coverage.

The trailing twelve-month revenue as of Q3 2025 stood at $7.67 billion. That's the total top-line figure covering the four quarters leading up to September 30, 2025, representing a -1.95% change year-over-year.

Here's a quick look at the Q3 2025 financial snapshot:

Metric	Amount/Value
Total Revenue (Q3 2025)	$1.881 billion
Net Income (Q3 2025)	$66.7 million
Earnings Per Diluted Share (Q3 2025)	$0.83
Cash Dividend Declared (Q3 2025)	$0.19 per share

To be fair, the Q3 2025 total revenue of $1.881 billion was slightly down compared to the $1.896 billion reported in the third quarter of 2024, but it did exceed analyst revenue estimates.

Finance: draft 13-week cash view by Friday.