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UPDATED -- The parent company of truck makers Kenworth and Peterbilt reported an increase in second quarter earnings despite lower revenue, but it's in the red for the first half of the year due to a big fine.
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Moderating new truck production and trade-ins have avoided layoffs and a greater glut of used trucks on dealers' lots, Dennis Slagle says.
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Volvo Trucks North America has named Jeff Lester senior vice president of sales, a newly created position within the company, effective Aug. 1.
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The parent company of Freightliner and Western Star said it now forecasts that the overall North American market for Class 6 to 8 trucks will “contract by approximately 15% in 2016.”
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Earnings for two of the world’s largest truck makers moved lower in the first quarter, according to earnings reports issued Friday.
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A truck component manufacturer and one of the nation’s largest truck dealer networks continue the trend of many businesses reporting lower first quarter earnings as truck sales are down from a year ago.
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The recent reorganization of Volvo Group along brand lines should be pretty seamless to North American customers in the short term, according to executives at a briefing for reporters Wednesday, but expect advances soon in powertrain technology and tests of connected vehicle technology and platooning.
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Technology will boost productivity and truck utilization to where demand for equipment will greatly decline, one researcher says.
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A record-setting fourth quarter for trucking company Forward Air Corp. has it looking forward to a banner 2016, while Rush Enterprises is cost-cutting to compensate for the low truck sales in the energy sector in 2015.
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With falling fuel prices, U.S. and Canadian natural gas Class 8 truck retail sales had a slower 2015 compared to the previous year.
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