CNH Industrial N.V. or U-Haul Holding Company: Who Manages SG&A Costs Better?

Managing SG&A Costs: A Tale of Two Companies

In the competitive landscape of industrial and service sectors, managing Selling, General, and Administrative (SG&A) expenses is crucial for profitability. CNH Industrial N.V. and U-Haul Holding Company, two giants in their respective fields, offer a fascinating study in cost management over the past decade.

From 2014 to 2023, CNH Industrial's SG&A expenses have seen a significant reduction of approximately 36%, from a peak of $2.9 billion in 2014 to $1.9 billion in 2023. This reflects a strategic focus on cost efficiency. In contrast, U-Haul's expenses have fluctuated, peaking at $257 million in 2014 and dropping to $58 million in 2023, a remarkable 77% decrease. However, the data for 2024 is incomplete, highlighting the need for continuous monitoring.

This analysis underscores the importance of strategic cost management in maintaining competitive advantage and financial health.