A Memphis, Tennessee, fleet is investing $84 million to turn a derelict shopping mall into its new headquarters facility.
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.
Despite an overall positive truck sales forecast for 2019, tariffs and trade wars could be stumbling blocks that trip up the economy and send freight and truck sales downward, said two longtime industry analysts.
Don’t worry about some signs of the economy softening in recent months, Bob Costello, chief economist for the American Trucking Associations, told trucking executives during the American Trucking Associations’ annual Management Conference and Exhibition.
The forecast for the 2019 model-year indicates it will be a strong asset acquisition year for the commercial fleet segment, which is comprised of 6.3 million light-duty vehicles in operation.
Growth across all business segments let to higher earnings for trucking and parcel delivery giant UPS in the second quarter.
FedEx will invest two-thirds of $200 million in increased compensation for hourly team members, due to the recently enacted tax reform signed by President Donald Trump.
Speaking about the impact of Hurricanes Harvey and Irma at the FTR Transportation Conference, analysts estimated that the economic impact on the region could cost GDP 0.5% in the third quarter of 2017.
Trucking and logistics interests are keeping a close eye on talks to revamp the North American Free Trade Agreement begin this week – particularly those involved in the automotive industry.
Conventional wisdom in the fleet market is often wrong. If we roll back the calendar, the conventional wisdom about fuel prices was that there would be ebbs and flows in price per gallon rates, but the overall price trajectory would trend upward. The flaw with conventional wisdom is that it only works when no new variables are inserted into future projections. A case in point is the shale oil revolution, which now has experts predicting oil prices will remain flat for the foreseeable future.
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