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Navistar International reported a second quarter 2017 net loss of $80 million on revenues of $2.1 billion. The truck and engine maker attributed those results to lower U.S. and Canada sales of its trucks and buses and to heightened used-truck losses.
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The head of Mack Trucks regards the state of the heavy-duty truck market as solid. “Everyone in the industry has succeeded in bringing inventory down to safe levels,” Dennis Slagle, president of Mack Trucks and Volvo Group executive vice president, said at a May 18 media briefing.
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Following a three-year high in the previous month, April’s volume grew slower, according to the latest release of ACT Research’s For-Hire Trucking Index.
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Class 8 truck orders had a solid month in April, meeting expectations and beating the previous month, according to early numbers from FTR and ACT Research.
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Employment at truck dealerships hit its highest point in five years, according to a report from American Truck Dealers a division of the National Automobile Dealers Association, as dealers work to improve customer uptime and deal with ever-more-complex equipment.
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The natural gas truck market had a strong start to 2017 but it faces increased competition from traditional fuels, electric, and hybrid-electric options.
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Class 8 truck orders for March have beat expectations for the third month in a row, according to FTR. While relatively flat compared to last month, they're up over last year.
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Used Class 8 truck sales volumes in February were higher overall than in 2016 and they improved for a second consecutive month, according to an ACT Research Report.
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There was a sense of optimism in the air at the Mid-America Trucking Show in Louisville, Kentucky, last week. As truck makers and suppliers made their presentations to the trucking press, many said thanks to solid economic indicators, truck orders are higher than they would have predicted just three to six months ago.
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Volvo Trucks has decided to cancel a round of layoffs at its Dublin, Va., truck manufacturing plants that would have put 500 people out of work.
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