GE Capital Transportation Finance, an operating unit of
General Electric Company
), recently raised the credit facility ceiling of
Rush Enterprises, Inc.
) to $759 million from $650 million. The increase in credit
facility will facilitate Rush to expand its geographical
footprint by extending its product inventory.
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Headquartered in New Braunfels, Texas, Rush operates the largest
network of commercial vehicle dealerships in North America under
the Rush Truck Centers name. It offers new and used commercial
vehicles, spare parts, service and repair, financing, leasing,
and rental services, as well as property and casualty insurance,
including collision and liability insurance on commercial
vehicles, cargo insurance, and credit life insurance to its
commercial vehicle customers.
Most of these dealer shops are strategically located in
high-traffic areas across the country in close proximity to
highways. Currently, Rush is on an expansion spree in North
Carolina, Ohio, Kansas, Missouri and Virginia. Once completed,
this will increase the tally of Rush Truck Centers to 88 across
Rush sells multiple brands of heavy-duty Class 8 trucks as well
as medium-duty Class 4-7 equipment and light-duty vehicles
manufactured by Peterbilt, International, Hino,
Ford Motor Co.
), Isuzu, Mitsubishi Fuso, IC Bus, or Blue Bird. Rush will
utilize the funds from increased General Electric credit facility
to purchase new and used truck inventory to support its growth
initiatives. On the other hand, an association with one of the
leading players in the U.S. trucking industry is likely to help
General Electric to further strengthen its market position.
General Electric is one of the largest and the most diversified
technology and financial services corporations in the world. With
products and services ranging from aircraft engines, power
generation, water processing, and security technology to medical
imaging, business and consumer financing, media content and
industrial products, the company serves over 100 million
Its segments include Power & Water, Oil & Gas, Energy
Management, Aviation, Healthcare, Transportation, Home &
Business Solutions, and GE Capital. With over 35 years of
experience, GE Capital Transportation Finance has provided the
commercial trucking industry with customized financing programs
that enable dealers to stock products according to individual
General Electric currently has a Zacks Rank #3 (Hold).
), which retains a Zacks Rank #2 (Buy), is a notable company in
the industry that is worth investing.