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Nov 4, 2016

CUMMINS' news * USA: Revenue falls 9% as demand remains weak

* Indiana - Lackluster buying of truck engines and power generation equipment hurts the top line
--- Engine maker Cummins Inc. said revenue fell more than expected in the latest period amid a prolonged slump in demand... Shares fell 4.1% to $123.76 in morning trading... The decline was mostly attributable to lower truck production in North America and weak international demand for power-generation equipment. Currency factors dented the top line by about 2% compared with last year on a stronger U.S. dollar that makes its products more expensive overseas. Cummins also has been pressured by weak commodity prices and soft economic growth in some developing overseas markets... Revenue in North America slipped 13% and international sales dipped 3%, as declines in the Middle East and Africa offset higher revenue from China...
Columbus, IND, USA - The WSJ, by JOSHUA JAMERSON - Nov. 1, 2016

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Aug 19, 2016

TRUCKING MARKET * USA: Spot market truckload rates tumbling

* DC - Amid low demand, spot rates, US truckers look to cut costs

--- Lower economic activity and high inventories have sent spot market truckload rates tumbling even lower than they fell in 2015, and are not expected to disappear any time soon... This was supposed to be the year when higher truckload costs pushed more freight to intermodal rail and less-than-truckload carriers, as happened in the expansion of 2014. This was supposed to be the year when shippers agreed to pay even more to fund higher truck driver wages... This was supposed to be the year … but it was not, and it will not be. Instead, the first half of 2016 proved the softest for the U.S. economy since 2011. That’s still much better than 2008 or 2009, but cold comfort to businesses fighting to find traction in an increasingly digital economy evolving at unprecedented speed. Whether the economy improves in the second half of 2016 or slides toward recession, trucking companies will have to travel in new directions, driven by high inventories, e-commerce, new regulations and increasingly complex supply chains... There are signs the trucking market already may have hit bottom and is inching upward early in the second half of 2016. Spot market load availability rose 28 percent in June thanks to seasonal freight, boosting total volume to levels seen in 2012 and 2013, and only 12 percent below 2015 totals, according to the DAT North American Freight Index... 
Washington, DC, USA - JOC, by William B. Cassidy - Aug 17, 2016

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Aug 11, 2016

TRUCKING MARKETS * USA: E-Commerce forces shift - ** Trucking Conditions Index

* New York - The rise of online shopping is forcing warehouse builders to redraw the map of logistics hubs on the East Coast
--- Development in Pennsylvania’s Lehigh Valley, closer to New York City than other hubs, has surged in the past five years... During the weekend, FedEx Ground, one of the largest transporters of parcels and other shipments, broke ground for its largest facility in the country, an 800,000-square-foot automated distribution center in Allen Township, Pa., adding a large chunk of space to the cluster of logistics real estate in the state’s Lehigh Valley area... Historically, the area around the central Pennsylvania towns of Harrisburg and York has hosted large clusters of warehouse space because of light zoning restrictions, access to several large city population centers and ample cheap land to build on. But in the last five years, as online retailers have begun to focus more on two-day and same-day package delivery, warehouse development in the Lehigh Valley... Satish Jindel, a shipping consultant based in Pittsburgh who helped build FedEx’s ground network, said the new distribution center in Allen Township is in an appealing location because of its proximity to the large population centers of New York and northern New Jersey, but also has access to airfreight facilities at Lehigh Valley International Airport and logistics companies that have set up shop all over the area... 
 (Photo: ZUMA PRESS - FedEx workers sort packages for delivery July 16 in New York City) -- The WSJ, by ROBBIE WHELAN - Aug. 9, 2016


* Indiana - FTR’s Trucking Conditions Index remains down but shows modest improvement

--- Even with an increase over May, the outlook for the trucking sector remains challenging, according to the most recent edition of the Trucking Conditions Index (TCI) from freight transportation consultancy FTR... The TCI reflects tightening conditions for hauling capacity and is comprised of various metrics, including capacity, fuel, bankruptcies, cost of capital, and freight... According to FTR, a TCI reading above zero represents an adequate trucking environment, with readings above ten indicating that volumes, prices, and margin are in a good range for carriers... June’s TCI came in at 2.92, which is ahead of May’s 1.69, which is the lowest TCI reading since 2011. April’s TCI was 6.2, and in March it was at 4.22 which marked an almost 50 percent decline compared to February... The main factors for the ongoing depressed market environment, according to FTR, were slow freight and a lull in new regulations. But even with these challenges, FTR said that the TCI is expected to head up into 2017, when the “capacity constraining effects of new regulations are calculated in...
Bloomington, IND, USA - Logistic Management, by Jeff Berman - August 9, 2016

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Aug 8, 2016

TRUCKS' MARKET * USA: Heavy-duty truck order slump deepens

* New York - Trucking companies placed the lowest number of orders since 2010

--- An unusually high number of cancellations in orders of heavy-duty trucks caused net orders in North America to plummet to the lowest point in over six years, according to a new report by research firm FTR. Trucking companies in July ordered 10,400 Class 8 trucks, used for long-haul routes, below expectations and 56% fewer than the same period last year, according to preliminary numbers from research firm FTR released Wednesday. It was the fewest number of orders since February of 2010. Heavy-duty truck orders, which have been sliding for months, were hit with “several significant order cancellations,” which is uncharacteristic for this time of year, FTR said in its report. “The high cancellations are likely the result of fleets placing large orders at the end of 2015, for delivery a year out,” said Don Ake, vice president of commercial vehicles at FTR in the report. Truck orders are low now as fleets adjust their overly optimistic expansion plans after seeing strong growth in 2014 and early last year, he said. ACT reported 10,500 Class 8 orders for July... 
 (Photo Bloomberg news - Orders for new heavy-duty trucks plunged to a six-year low, driven in part by an unusually high number of cancellations)  --  New York, NY, USA - The WSJ, by LORETTA CHAO - Aug. 3, 2016

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Apr 22, 2016

TRUCKING DEMAND * USA - Stalls in March

* DC - Truckers saw demand and prices fall as overcapacity

-- Trucking companies are starting to feel the impact of excess capacity on highways, as both demand and pricing fell in March, according to reports published Tuesday... The Cass Truckload Linehaul Index, which measures per-mile pricing for truckload carriers, decreased 0.6% in March from a year earlier, the first decrease since May 2010. In the same report, Avondale Partners forecast that pricing could continue to drop, due to continued overcapacity... Illustrating that trend, J.B. Hunt Transport Services Inc. reported this week that its fleet expanded by 12% in the first quarter outpacing its 5% growth in revenue... Meanwhile, a separate report from the American Trucking Associations showed the group’s seasonally-adjusted truck tonnage index was down 4.5% in March from February, its largest month-to-month decrease since September 2012. Declining fracking activity and factory output have been drags for... 
(Photo Bloomberg)  --  Washington, DC, USA - The WSJ, by Loretta Chao - April 19, 2016

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Mar 22, 2016

* USA TRUCK FREIGHT MARKET 2016

* California - Amazon use ELDs to weigh on US trucking this year

-- The U.S. trucking market entered 2016 quietly. Companies weren’t scrambling to find freight to put on empty trucks, but they also weren’t overwhelmed by volumes. Margins did show improvement, mainly because of gains made in the first half of the year as tight capacity remnants from 2014 allowed companies to secure significant rate increases... Amazon’s influence over the U.S. trucking industry has become so large that nearly every one of the 25 largest LTL carriers, as well as many of the nation’s largest truckload carriers and intermodal marketing companies, does business directly with the company or for one its suppliers. This is reflected in 2015 results as the growth of some Top 25 LTL carriers was likely fueled by the increasing transportation spend of the e-commerce titan. With such a market penetration, any abrupt shift in Amazon’s transportation strategy, and its more than $8 billion in domestic transportation spend, could cause ripples throughout the trucking industry... As with any storm, those that are about to be hit by the tumultuous weather should prepare in advance. Freight volumes are seemingly stable in early 2016 and pricing is still rational, so the current calm is the ideal environment for carriers to ready themselves for major industry changes... 
CAL, USA - JOC, by Michael Scheid - Mar 19, 2016

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Feb 5, 2015

TRUCK MARKET * USA: January sales held strong

* Indiana - Class 8 truck orders unusually robust for the first month of the year


-- FTR Tuesday released preliminary data showing last month’s North American Class 8 truck net orders at 35,060 units. And while tractor orders cooled from the torrid pace of the fourth quarter of 2014, this the strongest activity for January since 2006. In addition, it is a two percent improvement year-over-year. Orders fell back into more traditional patterns with most, but not all, OEMs continuing their strong order momentum. Class 8 orders have totaled 377,000 over the past 12 months... Bloomington, IN, USA -Trucking News-February 4, 2015


* Indiana - ACT Research: Demand demains high for class 5-8 trucks in january

-- While it’s true that January’s orders failed to match December’s near-record order intake, demand for new Classes 5-8 vehicles in the North American market remained elevated during the month, according to ACT Research... For the month, preliminary data indicate that 53,200 North American Classes 5-8 vehicle net orders were booked — a volume that represents a decline of 21 percent from December, but also a 5 percent improvement from a very strong year-ago January... While orders moderated to their lowest volume since September, January’s orders represent a 638,400-unit annualized order placement rate. Actual numbers will be released mid-February... At 17,800 units in January, Classes 5-7 orders rose 11 percent compared to year-ago levels, but fell 22 percent from December’s second-best month of the cycle order volume... January’s medium-duty orders fell slightly below build expectations, suggesting that backlogs are likely to be 1,000 to 2,000 units lower when the complete data set is compiled mid-month in ACT’s Classes 5-8 Vehicles report... Columbus, IN, USA -Trucking News -February 5, 2015


* New York - GM, Ford, Toyota, Chrysler post double-digit percentage increases
-- Auto makers report higher January sales of sport-utility vehicles and trucks, which are benefiting from declining fuel prices... Fueled by low gasoline prices and easier credit, the U.S. auto industry pulled its recent winning streak into 2015 with a nearly 14% January sales increase and over half of sales comprised of high priced pickups and sport-utility vehicles... The momentum, which includes double-digit percentage sales increase for each of the Detroit Three car makers compared with the same period a year ago, continues the upturn’s major trends: U.S.A. demand for trucks and sport-utility vehicles are skyrocketing amid $2-per-gallon gasoline, boosting transaction prices and margins at a time when the rest of the global auto industry offers little profit potential... NY,USA -The Wall Street Journal, by CHRISTINA ROGERS and JOHN D. STOLL -Feb. 3, 2015

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Aug 6, 2013

CARS & TRUCKS MARKET * USA

* USA - Vehicle sales in July best in 7 years 

(Photo by John Badman/The Telegraph - Workers guide the sign for the newly remodeled Quality Buick GMC Cadillac dealership at 1620 Homer Adams Parkway in Alton, Ill., on July 31, 2013) 
Detroit,MICH,USA -The Detroit News, by Karl Henkel, Melissa Burden and Bryce G. Hoffman -August 1, 2013: -- Strong retail sales of cars and trucks lifted the U.S. auto industry to its best July in seven years, in a sign that consumers are increasingly feeling better about the economy and are trading in their aging vehicles. Analysts believe the momentum could propel the industry to nearly 16 million sales by year’s end, which would be the best year since 2007... Automakers sold nearly 1.32 million cars and light trucks during the month, a 14 percent increase from the same period a year ago, according to Autodata Corp. That translates into a seasonally adjusted annualized selling rate of 15.67 million cars and trucks, up from the 14.09 million sales rate of the same period year ago. Total sales in 2012 were 14.49 million... GM posted the strongest growth among the domestics, with sales up 16.3 percent to 234,071. Chrysler posted an 11.1 percent sales gain and sold 140,102 cars and trucks. Ford sales jumped 11.3 percent to 193,080, kept down by falling inventory levels on popular models like the Fusion midsize sedan... Pickups and sport utility vehicles continued to be favorites. Sales of pickups, up 23.2 percent compared to July 2012, made up 14 percent of all new-vehicle sales last month. That growth is expected to continue for the rest of the year...

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Mar 19, 2009

Borderland Tradeshow * USA - In recession, a slow one: Loss of 50 booths reflects economy

The slowest in years

El Paso,TX,USA -El Paso Times, by Vic Kolenc -18 March 2009: -- That's how the Borderland Tradeshow for maquiladora suppliers was Tuesday, and that's how the maquila-related industry in El Paso and Juárez has been doing the last several months... Larry Stelley, president of the trade show, said, "I've been doing this 23 years, and this is the slowest it's been."... The show drew only 60 companies with 100 booths. That's down from 150 booths last year, and down from its 2000 peak with more than 400 booths and more than 10,000 people... Sergio Manzanares, sales manager for Southwest Freightlines, an El Paso trucking company, said he's attended the show every year since 1995 to find new clients... The trucking industry has been hurt by the slowdown in manufacturing production in Juárez, Manzanares said... (Photo by Victor Calzada / El Paso Times - Borderland Tradeshow exhibitors greeted attendees Tuesday at El Paso Convention Center )

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May 1, 2008

Freight Bill Factoring * USA - Becoming More Popular with Trucking Companies

As Freight Bill Factoring is becoming more and more popular with trucking companies, Phoenix Capital Group is now offering Freight Factoring options for growing trucking businesses

Phoenix,AZ,USA -PRWEB -May 1, 2008 -- Freight Factoring Company, Phoenix Capital Group, is now offering Freight Factoring solutions to help trucking companies grow their businesses and increase their cash flow without the use of a loan... The current state of the economy is creating many obstacles for many companies, including trucking companies, to operate in. Expenses are rising at a faster rate than freight prices. According to official energy statistics of the U.S. government, fuel prices are increasing at an astronomical rate http://tonto.eia.doe.gov/oog/info/gdu/gasdiesel.asp. The trucking industry, among others, is experiencing the residual difficulties of the increased fuel rates first hand...

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Apr 22, 2008

TRUCKS' MARKETS * USA - Class 7 trucks worst affected in March CV market

USA -Automotive World (UK), by David Isaiah -21 April, 2008: -- Sales of commercial vehicles in the US were hit hard in March, with all segments posting declines. The medium- and heavy-duty truck segments saw sales drop by 30.8% year-on-year in March, down to 28,777 units...

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Mar 11, 2008

Truck Repossessions * USA - Increase significantly in '07

Roslyn Heights,N.Y.,USA -Today's Trucking (CAN) -10 March 2008: -- Repossessions and liquidations of tractor-trailer trucks in the U.S. increased 110 percent in 2007 compared with 2006, according to Nassau Asset Management's NasTrac Quarterly Index... Nassau Asset Management cited several reasons for the large increase. Leading the way is the decline in homebuilding, which affects a number of peripheral business sectors, most of which utilize trucks... In addition, government regulations (including hours of service), rising fuel costs and competition placed greater financial strain on businesses that utilize trucks... Low interest rates in the past few years and significant sales of the remaining trucks with '06 engines as compared to the less proven '07 versions with tougher emission standards, led to an increase in late model trucks on the market, driving down prices in the used truck market...

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