Equipment World Digital Magazine
Issue link: http://read.dmtmag.com/i/712836
August 2016 | EquipmentWorld.com 14 H ertz Equipment Rental completed its transition into Herc Rentals on July 1, officially separating from Hertz Global Holdings. Herc Rentals estimates its 2015 North American market share was 4 percent, compared with United Rentals at 13 percent and Sunbelt Rentals at 7 percent. Herc Rentals says construction market customers make up 38 percent of its business mix by rental volume. In addition, earthmoving equipment makes up 19 percent of its fleet mix by average fleet original equipment costs (OEC), while aerial equipment represents 27 percent OEC. The company says its total OEC is $3.5 billion. The company now has 4,600 employees and approxi- mately 270 company-owned branches in North America. T esla has confirmed after much uncertainty that the auto- maker will be producing a pickup and a heavy-duty truck. In his blog at tesla.com, CEO Elon Musk said that the com- pany will be making "a future compact SUV and a new kind of pickup truck." Musk has hinted before about producing a pickup. Heavy-duty transportation is also a goal of Musk's. "In addition to consumer vehicles, there are two other types of electric vehicle needed: heavy-duty trucks and high passenger-density urban transport," Musk writes. "Both are in the early stages of development at Tesla and should be ready for unveiling next year. We believe the Tesla Semi will deliver a substantial reduction in the cost of cargo transport, while increasing safety and making it really fun to operate. reporter | staff report Hertz Equipment Rentals is now Herc Rentals Tesla aims at heavy-duty, pickup truck markets Briefs For more on each of these stories go to equipmentworld.com. R ichard M. Olson has been named Toro's next CEO, taking over from present CEO Michael J. Hoffman on November 1. Hoffman will continue to serve as the company's chairman, a position he has held since 2006. Olson has been with Toro since 1986. John Deere received a 3-year construction equipment contract from the National Purchasing Partners Government Division, which works with non-profit and public entities as a cooperative purchasing organization. More than 2,400 exhibitors will be showcasing their latest equipment at Bauma China, sched- uled for November 22-25 in Shanghai, China. Around 180,000 visitors are expected at the show, now in its eighth year. According to VDMA, a German industrial association, 20 percent of the all construction equipment sold globally was bought in China, which is the second largest in- dividual market for construction machinery, after the United States.