Feverish demand and lack of supply driving used truck prices skyward
A double whammy of few new trucks and fleets wanting upgraded equipment in a booming freight market is driving prices to a post-Great Recession peak.
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Throughout the pandemic, the commercial trucking industry struggled with a shortage of drivers. As the effects of the pandemic lessen and more drivers are hired, however, the industry is now facing a shortage of vehicles and other trucking equipment instead. Check back here for news and information related to trucking fleet equipment, plus insights and analysis on trends and issues impacting the trucking industry.
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A double whammy of few new trucks and fleets wanting upgraded equipment in a booming freight market is driving prices to a post-Great Recession peak.
As a UAW strike at Volvo enters its third week, the impact is reducing shifts at a Maryland engine plant that serves Volvo and Mack Trucks.
The refrain for fleets remained the same for trailer orders in May: Why book what you can’t get?
Money matters, but the chance to tell investors its growth story led to revenue-positive Proterra riding a SPAC to public trading.
Fleet intelligence provider Omnitracs announced the latest release of its SmartSense technology Thursday. SmartSense for Inattentive Driving+ aims to reduce accidents by identifying distracted driving.
Declining Class 8 truck orders in May are deceptive. Fleets would order more but they are holding off because it might take a year to get them.
New trailer orders slid dramatically in April as manufacturers had more dry and refrigerated van bookings than they could build.
The previous UAW and Volvo Trucks North America tentative agreement went down in flames. A new deal may face the same fate.
Slowdowns in deliveries of new trucks are driving prices of newer used trucks up in the double digits both at dealerships and in auctions.
A total of 26 truck, bus and motorhome manufacturers are recalling nearly 45,000 vehicles because of a fire risk from a Cummins Inc. fuel rail.
Microchip shortages and skyrocketing commodity prices make it unlikely that any of the 33,500 new Class 8 trucks ordered in April will be built this year.
Engine maker Cummins absorbed $105 million in freight costs to get microchips needed for engines during the trucking boom.
Despite a tough comparison with a year ago, Meritor saw sales and earnings increase in its Q2 fiscal quarter.
Certain International trucks with a possible connector rod defect are called back a second time as Navistar expands safety recall.
Wabash National spent $364 million to buy into final-mile products in 2017. It is finally starting to realize the hoped-for potential.
Autonomous software from Plus applied to the Cummins Westport natural gas engine could pair self-driving with negative net-zero carbon footprint.
The growing backlog of new truck orders has supercharged pricing for newer used models at auctions, with retail traffic also high.
After being fined $30 million for slow recall reporting, Daimler recalls 15 new truck models for a tie rod defect despite fielding no customer complaints.
Truck repairs and parts sales covered all the cost of running Rush Enterprises’ dealership network in Q1 as year-over-year profits doubled.
Trailer orders edged back toward trend in March, but the crush of orders in recent months leaves manufacturers addled by supply chain issues struggling.
A two-year collaboration between engine maker Cummins Inc. and Tula Technology makes a dramatic cut in nitrogen-oxide emissions.
PACCAR siblings Kenworth and Peterbilt regularly yield the spotlight to each other when it comes to product reveals.
Kenworth spent five years preparing a new range of medium-duty trucks, its first all-new lineup in three decades.
March Class 8 truck orders fell slightly from February, but still added to an industry backlog that manufacturers are struggling to reduce.
CVSA inspectors will focus on lighting and hours of service during the annual 72-hour safety blitz throughout North America on May 4-6.
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Yard services provider Lazer Spot acquired Firefly Transportation Services to “accelerate the adoption” of environmentally friendly electric spotter trucks.
Drivers often take the blame for roadside violations, but remaining in compliance with regulations is a team effort that includes maintenance personnel and safety operations in a fleet.
In the midst of vehicle electrification, Terminal Investment Corp. is enlisting the help of Volvo Penta and Cummins to create its first terminal tractor with an electric powertrain.
Trailer makers cannot keep up with demand, pushing out delivery times while navigating supply chain bumps.
The first Mack medium-duty trucks in nearly 20 years are finding favor with customers.
“We are solving meaningful business challenges with innovation and passion,” says GreyOrange Chief People Officer Ramya Sampath Sharma.
New Class 8 truck orders are piling up, leading fleets to turn to used equipment to add capacity in a consumer-driven freight market.
Class 8 truck orders have exceeded 30,000 a month for six consecutive months, more bookings than in the previous 18 months combined.
The bankruptcy filing by Hertz threatened to dump a glut of trucks and cars onto the used vehicle market if the company did not find a way to survive.
Navistar is recalling more than 32,000 International LT and Lonestar models from several recent model years because engines can shut down unexpectedly.
Romeo Power CEO Lionel Selwood saw the component shortages coming for commercial vehicle batteries. Romeo hedged by buying on the open market.
Workhorse Group shares tanked after the U.S. Postal Service awarded a 10-year contract to Oshkosh Truck Corp. to modernize the aging mail delivery fleet.
Cummins will build a plant within a Daimler complex in Germany and become the sole supplier of medium-duty engines for the truck maker globally.
Ryder CEO Robert Sanchez gets two opportunities to talk about the company’s outlook, in an earnings call and at a Citi conference.
Driveline and thermal management supplier Dana Inc. has $700 million in new business from auto and truck makers. Half of it is in electrification contracts.
BorgWarner continues to build up its portfolio for commercial vehicle electrification with the $880 million acquisition of European battery maker AKASOL.
Kenworth focused on fuel-saving aerodynamic gains and a driver-directed digital dash for a refresh of its T680 on-highway flagship.
Isuzu will launch new Class 6 and 7 low-cab-forward trucks later in 2021 with Cummins B6.7 engines.
After four straight months of near-record orders, trailer bookings took a breather in January as some manufacturers slowed taking reservations.
BrightDrop, a startup launched by GM, thinks that to solve last-mile delivery you need a provider that looks at the issues holistically — from vehicles to technology.
Old-school aerodynamics technologies such as TruckWings can contribute to economic and environmental sustainability.
Engine and power systems maker Cummins Inc. destroyed analyst estimates for Q4 as the loosening of COVID-19’s grip in China pushed record sales.
Trailer maker Wabash National is pruning its product portfolio to redeploy resources for growth it sees in refrigeration and last-mile delivery.
Trucks hauling COVID vaccines won’t get pulled over, says the Commercial Vehicle Safety Alliance.
Prices for used Class 8 tractors should maintain the momentum from the last half of 2020, but the nation’s unemployment rate could affect that, according to J.D. Power Valuation Services.
2020 was supposed to be a year when trailer orders dropped after racing ahead of Class 8 tractor reservations. Even with practically no orders in April, annual trailer bookings blew away early-year predictions.
Road Hunter, a popular navigation app for truckers, surveyed its users to find out more about their ELD providers. The app’s founder said there is a huge market for truckers potentially willing to switch ELD providers.
Consumer goods demand, recovery in manufacturing and shortage of drivers combine to create profits that fleets spend to upgrade and expand truck capacity.
Wabash National discloses Scope 1 and Scope 2 GHG emissions in its first sustainability report.
Orders for new trailers dipped in November but the total bookings in the last three months are still the second highest in industry history.
Trailer maker Wabash National plans to sell Beall tankers unit to MAC Trailers for an undisclosed price. It plans to use the proceeds for its parts and services, cold chain, and home delivery markets.
Heavy-duty trucks with collision avoidance, emergency braking and other safety technologies are beginning to enter the used truck market, potentially making the roads safer as older trucks are retired.
Samsara announced the Workflow Builder and App Designer features for the Driver App are available for all Samsara customers starting Tuesday.
Heather Kettelhohn told the North American Supply Chain Summit she arrived at Cummins Inc. just four days before the pandemic began to shut down the company’s global operations. She had to learn on the fly while applying her decades of planning expertise.
FedEx, UPS, AIT to get their delivery marching orders.
Preliminary Class 8 truck orders in November were the third highest in history as fleets anticipating steady freight demand locked up build slots in 2021.
Navistar makes connected vehicle solutions maintenance standard for five years on all International Trucks on-highway models beginning Dec. 15.
No longer content to be known only for aerodynamic advances, XStream Trucking becomes TruckLabs to broaden business beyond cab and trailer gap-closing technology.
The trend of improving used truck sales stalled in October. But year-over-year price gains are holding up. Added capacity could be a problem if pandemic shutdowns slow freight demand.
Concern over the supply chain for wood and aluminum components to build new trailers adds to consumer goods-driven demand that pushed equipment orders over 50,000 for a second straight month in October.
Ryder is a major seller of used trucks. So it was notable that in its quarterly earnings report, it said the amount of money it was getting from the sale […]
Wabash National saw a 37% surge in its backlog of trailers to build from the second to the third quarter as record orders piled in. Third-quarter margins declined but the trailer and last-mile equipment builder was profitable.
TRUX, the leader in dump truck logistics technology, is the latest member of the Blockchain in Transport Alliance (BiTA). Read why.
Preliminary Class 8 truck orders in North America reached a two-year high in October with more than 40,000 reservations.
A half-dozen basic tips on what drayage truck drivers must consider when picking up a container chassis from a pool.
Defunct Rhode Island trucking company was being investigated in connection with accident that killed one of its drivers
Envase Technologies platform will expand its presence in Canada with the acquisition of TMS provider Tailwind Transportation Software.
Sales of used vehicles set a record, up by two-thirds from a year ago and 40% sequentially
Chassis manufacturer anticipates chassis shortage as COVID-19 subsides as well as desire among pool operators to replace aging units.
Its sale from a bankrupt firm complete, Rand rolls out new product, has been generating cash for more than a decade
Dana Inc. sales rose 85% above second quarter as most markets rebounded from COVID pandemic. The company also invested in a maker of electric vehicle software.
A half-dozen basic physical characteristics of ocean containers should be considered before shippers or their packers stuff them.
In quarterly earnings report, company reports decline in revenue but big jump in net income
Diesel and advanced powertrain maker Cummins Inc. reported the largest quarter-to-quarter increase in revenue and profits after suffering its worst sales drop in its 100-year history — a stark example of the so-called V-shaped recovery.
German forwarder says acquisition will expand its global business in handling nonhazardous bulk liquids such as alcoholic beverages and edible oils.
All stakeholders are experiencing used truck momentum despite and because of the lingering pandemic.
TruckX has introduced a ruggedized wired ELD setup, which reduces the operational difficulties that come with using a bluetooth ELD solution.
The Agriculture Transportation Coalition, together with TradeLanes, surveys hundreds of American shippers about the cost to their bottom lines of uncommunicated earliest return dates from ocean carriers.
Former Port Authority of New York and New Jersey executive takes over at IICL from Steven Blust, who will continue in a senior adviser role.
Fleetpal is built on VMRS, the universal coding system, allowing it to track and segment equipment failure and operating costs efficiently.
FlockFreight pools together LTL freight and ships it via shared truckloads in full truckload containers instead.
Fleets placed 52,000 preliminary orders for new trailers in September, the third-highest month in history as pandemic-driven consumer goods demand continues unabated.
Container chassis management model in the U.S. challenges advancement of full-circle tracking technologies.
Self-driving trucks will drastically cut down on the need for truck drivers, while also disrupting allied segments like insurance, fuel stations and truck stops.
Drayage truckers on the Envase platform have access to an online marketplace that connects them to available parking and storage lots nationwide.
The Intermodal Motor Carriers Conference insists the U.S. Federal Maritime Commission has jurisdiction to ensure that ocean container chassis provisioning is conducted fairly.
The inability of ocean carriers to timely inform shippers of schedule changes results in costly logistics disruptions and potential for lost international sales.
Second-largest auto supplier merger of 2020 positions BorgWarner for greater role in electrification while completing the breakup of General Motors’ once-vast parts organization.
Cash from higher spot rates and replacement orders led September Class 8 truck orders to their highest monthly total since October 2019
A Bendix-Dana joint venture has made more than 3.5 million heavy-duty truck brake system components since 2004. Now Bendix will go it alone.
Knight-Swift will begin testing a Freightliner eCascadia all-electric day cab as part of a broader effort to reduce carbon emissions by 50% by 2035.
The Ocean Carrier Equipment Management Association says the Federal Maritime Commission’s jurisdiction does not apply to a domestic transport dispute with container-hauling truckers.
Bias-ply tires persist within the nation’s container chassis fleet, but equipment providers vow that their days are numbered with the ongoing switch to radial tires.
Pulled along by improving orders for new Class 8 trucks, demand for late-model heavy-duty used trucks continues to swell.