Economy

Global OEMs suspend production, warn of financial impact of Covid-19

STUTTGART, Germany – Daimler Group has announced it is taking the extraordinary step of suspending the majority of its production in Europe for an initial period of two weeks. The…

Trucking and Covid-19 — Questions & Answers

TORONTO, Ont. — As Today’s Trucking continues its coverage of Covid-19 and the impact on trucking, this page will be updated with links to related resources and news. 1. What…

Wellington Group expands into U.S. market

GUELPH, Ont. – A fast-growing Ontario freight hauler has expanded into the U.S. and says it isn’t yet done expanding. Wellington Group of Companies recently announced the acquisition of Hudson,…

Covid-19 gives freight demand a bump – but will it last?

TORONTO, Ont. — Canadian trucking firms are still unsure of how the Covid-19 pandemic will affect their businesses long-term, but for now it’s been a boon for freight volumes. “We…

Trucking escapes new border restrictions in Covid-19 fight

TORONTO, Ont. – The Canada-U.S. border has been tightened in the fight against the Covid-19 virus, but remains open for the business of trucking between the two countries. “Travel restrictions…

How Highlight Motor Group attracted the attention of a private equity investor

From a single shiny purple truck 13 years ago, to a fleet of more than 450 today, Highlight Motor Group’s (HMG) growth has attracted plenty of attention. Most recently, it…

Titanium positioned for ‘transformational’ acquisition

BOLTON, Ont. – After a year of reducing its debt and improving its balance sheet, Titanium Transportation is in a position to potentially double its size through a “transformational” acquisition.

Canada short 25,000 truck drivers by 2023: report

TORONTO, Ont. – Canada is expected to be short 25,000 truck drivers as early as 2023, representing a 25% increase over the unfilled vacancies in 2019, Trucking HR…

Titanium sets revenue record, but profit slides amid softening market conditions

BOLTON, Ont. – Titanium Transportation Group achieved its highest-ever fourth quarter revenue in 2019, but saw net income slip from $1.3 million to $300,000 year-over-year. “Titanium wrapped up the year…

ECONOMIC WATCH: Coronavirus affecting equipment demand

Kenny Vieth COLUMBUS, Ind. – ACT Research has trimmed its forecasts for commercial vehicle and trailer demand, due to a drop in economic activity related to the novel coronavirus…

Ocean Trailer opens in Surrey, B.C.

SURREY, B.C. – Ocean Trailer has opened a facility in Surrey, B.C., which will be equipped with six bay shops and will offer mobile service out of the new Lower…

Volvo Trucks launch goes online amid coronavirus concerns

Volvo has updated the FH, FH16, FM, and FMX models, which collectively account for 70% of global sales. (Volvo photo) GOTHENBURG, Sweden – Imagine you were hosting the biggest truck…

ECONOMIC WATCH: Truck orders plunge as fleet uncertainty rises

BLOOMINGTON, Ind. – Orders for Class 8 trucks fell sharply in February to a total of 14,100 units, according to preliminary data from FTR. That marked an “unexpected” 20% drop…

Hyndman trucks go under the hammer in Bolton

BOLTON, Ont. – Row upon row of heavy-duty trucks owned by the now-defunct Hyndman Transport are on display in Bolton, where Ritchie Bros. Auctioneers is holding its…

ECONOMIC WATCH: Freight recession ending, pricing to swing back in carriers’ favor

ORLANDO, Fla. – The freight cycle has bottomed and trucking conditions should improve later this year and into 2021 as freight demand and capacity come into balance. That was the…