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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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The supply of Class 8 trucks has continued to rise faster than demand, according to the ACT For-Hire Trucking Index.
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