Rolling stock

The term rolling stock in the rail transport industry refers to railway vehicles, including both powered and unpowered vehicles: for example, locomotives, freight and passenger cars (or coaches), and non-revenue cars. Passenger vehicles can be un-powered, or self-propelled, single or multiple units.^[1][2][3][4]

In North America, Australia and other countries, the term consist (/ˈkɒnsɪst/ KON-sist) is used to refer to the rolling stock comprising a train, a list containing specific information for each car of a train, or a group of locomotives.^{[5][6]: 1‑129}

In the United States, the term rolling stock has been expanded from the older broadly defined "trains" to include wheeled vehicles used by businesses on roadways.^[7][8][9]

The word stock in the term is used in a sense of inventory. Rolling stock is considered to be a liquid asset, or close to it, since the value of the vehicle can be readily estimated and then shipped to the buyer without much cost or delay.^[10][11] The term contrasts with fixed stock (infrastructure), which is a collective term for the track, signals, stations, other buildings, electric wires, etc., necessary to operate a railway.