Motor carriers paused their replacement cycles during the early days of the COVID-19 pandemic, but most dealers, fleets and analysts said the industry merely delayed making purchases for a few months, and they don’t expect long-term changes.
September 15, 2020Trucking Business News
Transport Topics business coverage focuses on the financial, economic, and commercial aspects of the modern freight business. Looking at both the microeconomic and macroeconomic forces shaping bottom lines, the news in this category includes labor news, jobs reports, tonnage and sales indicators, operations analysis, money and banking, mergers, acquisitions, e-commerce, bankruptcy, insurance issues, and more.
National Average Price of Diesel Sheds 1.3¢ in Second Consecutive Decline
The national average price of diesel dropped 1.3 cents a gallon to $2.422, the Energy Information Administration reported Sept. 14. Diesel costs 56.5 cents a gallon less than it did a year ago after the second straight weekly drop.
September 14, 2020Daimler AG to Pay $1.5 Billion to Settle Emissions Cheating Probes
Automaker Daimler AG and subsidiary Mercedes-Benz USA have agreed to pay $1.5 billion to the U.S. government and California state regulators to resolve emissions cheating allegations, officials said Sept. 14.
September 14, 2020House Aims to Pass Stopgap Government-Funding Bill Week of Sept. 21
The House is aiming to vote the week of Sept. 21 on a stopgap spending bill to keep the government open when the fiscal year ends Oct. 1, Majority Leader Steny Hoyer said.
September 14, 2020Nikola Issues Fuller Denial of Short Seller Hindenburg’s Claims
Nikola Corp. made a fuller-throated denial of a report last week that claimed the electric-truck maker had deceived investors, accusing a short seller of mischaracterizations and distortions.
September 14, 2020House Considers Electric Vehicles Legislation
Senate-passed legislation meant to promote access to electric vehicles around the country will be under consideration before the U.S. House of Representatives this month.
September 14, 2020Hurricane Sally to Hit New Orleans, Alabama Coast
Hurricane Sally will begin hammering the U.S. Gulf Coast with flooding rains late Sept. 14, before making landfall between New Orleans and Mobile, Ala., and potentially causing as much as $3 billion in losses and damage.
September 14, 2020Alabama Awards $1.5 Million for Infrastructure Projects
Leading Alabama officials have announced $1.5 million in funding will be awarded to cities and counties for local road and bridge projects.
September 14, 2020August Class 8 Sales Hit Highest Mark of 2020
U.S. Class 8 retail sales in August hit the high point of the year, clearing 17,000 as Freightliner notched a leading 41.1% market share, WardsAuto .com reported.
September 14, 2020OPEC Forecasts Lower Demand; BP Sees ‘Peak Oil’ in 2020s
Developing countries’ difficulty in containing the spread of the coronavirus pandemic will keep a lid on global oil demand, particularly in India, the OPEC cartel said Sept. 14 as it cut its forecasts.
September 14, 2020