Ryder Raises 2026 Outlook on Strong Used Vehicle Sales Rebound

Key Details Ryder System reported better-than-expected used vehicle sales in Q1 2026, prompting the Miami-based company to raise its full-year guidance. Used vehicle sales totaled 4,600 units, down 10% year-over-year but up 27.8% sequentially from Q4 2025, marking the first year-over-year improvement since Q3 2022. Why It Matters Used vehicle sales serve as a leading indicator of freight market health alongside rental power miles and leased fleet utilization. After the longest industry downturn on record, these metrics signal potential recovery. Ryder's rental fleet utilization improved to 68% from 66% year-over-year, with sequential demand changes matching historical seasonal patterns for the first time in three years. Market Conditions Used tractor pricing increased 6% annually while truck pricing fell 5%. Fleet management solutions, Ryder's largest division, generated $1.46 billion in revenue, up 1% from the prior year. Overall company revenue reached $3.126 billion versus $3.131 billion in Q1 2025. New Leadership CEO John Diez, who took over April 1, attributed the outperformance to higher retail volumes and stable retail pricing arriving sooner than anticipated. However, the commercial rental fleet contracted 13% year-over-year to 30,500 vehicles, reflecting ongoing fleet management adjustments.