According to transportation executives, the forecasts and business strategies of carriers and manufacturers of transport-oriented capital goods indicate the industry is bracing for an era of higher energy prices and increased regulations. These are just some of the key findings found in “Transportation Outlook” (cit.com/TransportationOutlook), a new study released today by CIT Group Inc. (NYSE: CIT) cit.com, a leading provider of customized leasing and financing to end-users of aircraft, locomotives, railcars and ships. The study was conducted by Forbes Insights on behalf of CIT.
“This study highlights the fact that transportation executives are preparing for a future of uncertainty, both in terms of fuel prices and regulations,” said Jeff Knittel, President of CIT Transportation Finance. “In doing so, they are implementing strategic business plans in response to the potential for a protracted era of higher energy costs and growing concern regarding current and proposed emissions regulations.”
Complimentary copies of the report can be downloaded at cit.com/TransportationOutlook.
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About the Study
The study, which was conducted in the summer of 2013 by Forbes Insights, included insight into the views and strategic plans of middle market ($25 million - $1 billion in annual sales) transportation companies. The sample comprises four sectors: aerospace/airlines, maritime, trucking and rail. While most of the 209 responses come from freight and passenger carriers, the survey also features a strong showing from manufacturers and broker/dealers (from the aforementioned sectors).
About Forbes Insights
Forbes Insights is the strategic research and Thought Leadership practice of Forbes Media, publisher of Forbes magazine and Forbes.com, whose combined media properties reach nearly 50 million business decision makers worldwide on a monthly basis. Taking advantage of a proprietary database of senior-level executives in the Forbes community, Forbes Insights conducts research on a host of topics of interest to C-level executives, senior marketing professionals, small business owners and those who aspire to positions of leadership, as well as providing deep insights into issues and trends surrounding wealth creation and wealth management. forbes.com/forbesinsights
Founded in 1908, CIT (NYSE: CIT) is a bank holding company with more than $35billion in financing and leasing assets. It provides financing and leasing capital and advisory services to its clients and their customers across more than 30 industries. CIT maintains leadership positions in small business and middle market lending, factoring, retail finance, aerospace, equipment and rail leasing, and vendor finance. CIT operates CIT Bank (Member FDIC), its primary bank subsidiary, which, through its online bank BankOnCIT.com, offers a suite of savings options designed to help customers achieve a range of financial goals. cit.com
C. Curtis Ritter
Director of Corporate Communications
Vice President, Media Relations
CIT INVESTOR RELATIONS:
Executive Vice President
Senior Vice President of Corporate Communications
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