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According to FTR’s projections for its Trucking Conditions Index, a combination of drastic declines in freight volumes, utilization, and rates due to the COVID-19 pandemic could lead to the worst overall trucking conditions on record during the second quarter of this year.
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While COVID-19 related demand boosted freight volume and spot freight in the first part of March, the latter part of the month saw a reversal, and April is looking ugly.
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The pressure to restock grocery stores and distribution centers stripped by COVID-19 buying has quickly given way to a slump for truck freight. As March segued into April, the spot market took a tumble, according to figures from DAT Solutions and Truckstop.com.
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Class 8 truck orders plummeted in March to their lowest readings in a decade, at a level half of what it was a year ago, according to preliminary numbers from FTR and ACT.
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Season two of the HDT Talks Trucking podcast is now available, covering topics such as California’s AB5 law restricting the use of independent contractors, autonomous trucks, electric trucks, and reducing unscheduled downtime.
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The U.S. economy was rocked today by shocking numbers of 3.3 million people filing unemployment claims for the first time, but the worst is still to come for trucking.
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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.
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With all the information – and misinformation – coming out concerning the COVID-19 outbreak, HDT is offering a webinar that will delve into what trucking fleets should know during this global crisis.
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The looming business and economic impact on the trucking industry from COVID-19 pandemic is “kind of like there’s a big hurricane coming in, and it’s one of the nastier storms in history. But so far you’re just seeing some waves on the shore.”
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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.
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