RER interviewed dozens of rental company executives in preparation for this year’s RER 100, and will publish portions of some of the interviews in RER Reports. In this Q&A, RER speaks with Barry Natwick, chief operating officer of Volvo Rents, No. 7 on the new RER 100.
RER: What were the keys to Volvo Rents’ growth in 2012?
Natwick: Good employees focused on the customer and supporting their business. We also had positioned ourselves well in 2011 and continued our progress in 2012. We developed many new accounts and continue to expand business with our core customer group. While the market was still somewhat reserved in activity we did see improvement and we were well positioned to take advantage of it.
How is 2013 starting off and what do you expect for this year?
So far the year-to-date results have been according to plan. It seems that the industry is looking at somewhere around 8- to 12-percent growth and we expect to be above that level.
Any particular changes to your equipment inventory in 2012?
We made a significant investment in renewing and expanding our fleet late last year and we will continue improve our fleet mix as the market recovers in 2013.
Did rental rates improve in 2012 and what do you expect in 2013?
Our rates improved in 2012 and we expect additional improvement in 2013.
Did financial utilization improve or change in 2012? Any particular strategies in this area?
Financial utilization did see improvement. We have been able to leverage our growth and also have had success in driving efficiencies within our overall operation.
Were margins better in 2012?
Yes.
Do you have plans to grow or expand in 2013, i.e., expand fleet, expand to new market areas, open branches, other strategies?
Yes to all the above.
