TEL Leasing Places Major 400-Truck Order for Volvo VNL 860 Sleepers

Key Details Chattanooga-based leasing company TEL has ordered 400 Volvo VNL 860 sleeper tractors, marking one of the largest orders for the model to date. The deal was announced at the American Trucking Associations' Technology and Maintenance Council Annual Meeting. TEL, founded in 2004, specializes in leasing Class 8 sleeper and day cab tractors plus various trailer types. Why It Matters The large order reflects a significant market rebound after a brutal 2025. North American Class 8 orders jumped 156% year-over-year to 46,200 units in February 2026, signaling strong recovery from the freight recession. Aaron Thompson, TEL's vice president of asset management, emphasized the company's focus on equipment that reduces total operating costs for owner-operators and fleets. Market Recovery Volvo Trucks North America noted that approximately 15,000 revised VNL models are already operating across North America. The manufacturer faced production cutbacks in late 2025 due to weak demand, but the trend has reversed dramatically. Previous major VNL 860 orders included 264 trucks from Averitt Express and 185 from Koch Trucking. The VNL 860's fuel efficiency remains attractive to carriers dealing with elevated diesel prices, positioning Volvo competitively as the industry stabilizes.