Economy

Used truck prices up 31% in Q2: Ritchie Bros.

The price of used tractors sold through Ritchie Bros. auctions continued to push higher in the second quarter of the year, reaching levels 31% above the same time frame last…

Trailer orders fell 21% in June

North American fleets ordered 15,300 trailers in June, according to preliminary data from ACT Research, down about 21% from May but up 33% year over year. “With 2023 order boards…

Little risk of freight demand collapse: FTR

Falling spot market volumes and rates don’t tell the complete story about the current economic scenario, according to industry analysts at FTR. During a State of Freight webinar July 14,…

Mild recession now base case scenario: ACT

ACT Research now projects that a mild recession is the base case for the U.S. economy and North American commercial vehicle markets. It has lowered its GDP forecast, but the…

TFI International buys Transport St-Amour

TFI International has acquired Transport St-Amour, from l’Ange Gardien in Quebec’s Outaouais region. The news was announced by Kingsway Bulk, a division of TFI, via social media. The transaction allows Kingsway…

Shoreland Transport buys Connors Transfer

Shoreland Transport has purchased Connors Transfer, nearly doubling in size and giving parent company Cooke more control over its supply chain. Cooke is a major New Brunswick-based global seafood company.

Supply chain shortages continue to limit Class 8 truck orders

North America’s Class 8 truck orders spiked 13% in June, but were down 36% year over year as OEMs continue to carefully manage order intake in light of uncertainty about…

National Truck League has new ownership

Westland Insurance has purchased National Truck League Insurance Brokers, a London, Ont.-based specialty insurance broker focusing on the transportation industry. “The acquisition of National Truck League further establishes Westland’s leading…

Shippers see improving conditions

U.S. shippers saw business conditions improve in April to the best conditions since September 2020, according to industry analyst FTR. Its Shipper Conditions Index improved to a reading of -1.7…

Recession risks growing: ACT Research

There’s about a 50/50 chance of a recession in the U.S., but truck makers will benefit from pent-up demand and trucking company profitability, ACT Research reports. “With the current head…

World was short more than 2.6 million truck drivers in 2021, IRU says

Trucking operations around the world are struggling to find the truck drivers they need, while women and youth continue to be largely under-represented in the roles. The IRU – a…

Canada’s spot market continues to cool

Canadian spot market load volumes fell 15% in May, according to Loadlink Technologies, reflecting a cooling from pandemic-induced highs. For the second consecutive month, truck capacity increased with 1.68 trucks…

U.S. trucking groups don’t want fuel tax holiday

Trucking associations in the U.S. are unimpressed with a “gimmicky” decision to temporarily suspend the federal fuel tax. “After months of touting the passage of the well-funded Infrastructure Investment and…

Volvo sees electric vehicles as opportunity to accelerate growth

The higher value of electric trucks and machines will accelerate Volvo Group’s growth, the company said during its Capital Markets Day in Sweden June 22. The company said electric trucks…

Quebec asphalt producers warn of massive layoffs

Bitume Quebec is warning of “mass layoffs” by dozens of asphalt companies if an ongoing labor dispute between Quebec’s 1,800 government engineers and the provincial government is not resolved in…