Economic Conditions

Most Commercial Fleet Orders for 2021 Models to be at Pre-Pandemic Levels

A number of commercial fleets are planning to order fewer fleet vehicles in MY-2021, but the majority of surveyed fleet managers state there will be no change in order volumes and will stick to pre-existing replacement schedules.

Events Fleet Pivots to Relief Runs During COVID-19 Outbreak

Upstaging, a fleet that specializes in hauling lighting, staging and other requirements for concerts and other live events, turned to hauling relief supplies as the COVID-19 outbreak intensified.

Trucking-Related Manufacturers Idle Production Facilities Due to COVID-19

A number of truck makers and suppliers are choosing to temporarily idle production facilities as part of a national effort to help slow the spread of the COVID-19 pandemic in the United States.

Used Truck Sales Return to Downward Track

ACT Research said North American used truck sales volumes fell 35% in November.

Volvo Announces Layoffs at New River Valley Assembly Plant

Due to weakened orders for heavy duty trucks in North America, Volvo has announced it will lay off 700 workers beginning in January of next year.

Cummins to Trim Workforce in Line with Market Demand

Engine maker Cummins Inc. is planning to lay off about 2,000 workers due to the downturn in the market.

IRS Depreciation Limit Update Should Minimally Impact Fleets

The Internal Revenue Service update of the depreciation limits for higher-priced passenger vehicles should have minimal impact on commercial leasing, fleet management company executives said.

President Trump Hosted by Minnesota Truck Dealer for Tax Discussion

President Trump and senior White House officials met with Bob Nuss of Nuss Truck & Equipment in Burnsville, Minnesota about taxes and the economy and asked for his support of a federal excise tax repeal.

Memphis Mall Finds New Life as Truck Fleet Headquarters

A Memphis, Tennessee, fleet is investing $84 million to turn a derelict shopping mall into its new headquarters facility.

Where Are We in the Business Cycle?

Stock market volatility, rising interest rates, trade wars and other factors have some wondering if we’re standing on the precipice of the next recession. But company managements echo clear sailing ahead.

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