The inventories-to-sales ratio traditionally has been a key indicator for assessing near-term transportation demand. Right now they're very lean, which usually is good news for trucking – but there's a catch.
The trucking industry, and the supply chain as a whole, are in an upcycle, but analysts suspect that the industry has reached its peak.
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.
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.
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.
ACT Research said North American used truck sales volumes fell 35% in November.
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.
Engine maker Cummins Inc. is planning to lay off about 2,000 workers due to the downturn in the market.
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 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.