Mon, Sep. 19, 7:48 AM
- Used machinery is flooding the secondhand market, piling more pain on equipment makers battling slack demand amid a global slump in the value of everything from coal to corn, WSJ reports.
- Dealers, in turn, are keeping smaller inventories of new wheel loaders, backhoes and other machinery. That is hurting sales for Caterpillar (NYSE:CAT), Volvo (OTCPK:VOLVY), Deere (NYSE:DE) and other manufacturers.
- Rental businesses account for half of new equipment sales in the U.S., and some analysts see that climbing to 60% within five years.
Tue, Aug. 16, 5:47 PM
- The U.S. issues final carbon emissions standards for big trucks, in Pres. Obama's latest major rule seeking to clamp down on greenhouse gas emissions across the U.S. economy.
- The EPA and U.S. Department of Transportation rules would achieve 10% more carbon emission and fuel consumption reductions than last year’s proposed rules, likely raising the price tag price for tractor trailers and other long-haul trucks but cutting operating costs.
- Cummins (NYSE:CMI), a supporter of the rules, says it is confident it has the engine technologies to meet or exceed improvements required by the standards.
- The cost of tractors that pull freight trailers could rise 12%, Bloomberg calculates, impacting truckmakers such as Paccar (NASDAQ:PCAR), Navistar (NYSE:NAV), Daimler (OTCPK:DDAIF) and Volvo (OTCPK:VOLVY), raising costs for their products.
Tue, Aug. 16, 3:52 AM
- The Obama administration is expected to issue final rules today reducing greenhouse gas emissions from trucks over the next decade, likely one of the last major climate-related rules President Obama will issue before he leaves office.
- The final regulations, which aim to cut 1B metric tons of emissions, will be a game-changer for tractor-trailers, buses and other large vehicles with model years 2021 through 2027.
- Related tickers: CMI, ETN, NAV, PCAR, OTCPK:DDAIF, OTCPK:VOLVY
Tue, Jul. 19, 7:24 AM
- The European Commission fined a group of truck makers €2.93B ($3.24B) for colluding on truck prices for over 14 years.
- The companies which admitted to the charges include Daimler (OTCPK:DDAIF), Volvo/Renault (OTCPK:VOLVY, OTC:RNSDF, OTCPK:RNLSY), MAN (OTCPK:VLKAY), Iveco (NYSE:CNHI), and DAF (NASDAQ:PCAR). MAN wasn't fined because it came forward to alert the EC of the cartel.
- "For 14 years they colluded on the pricing and on passing on the costs for meeting environmental standards to customers. This is also a clear message to companies that cartels are not accepted," said Commissioner Margrethe Vestager.
- European Commission press release
Tue, Jul. 19, 5:37 AM
Tue, Jul. 5, 2:18 PM
- Truckmakers face heavy fines from the European Union over price fixing charges, according to Bloomberg.
- Although some truck manufacturers have set aside provisions to pay for the expected penalties, it's unclear which companies will end up having the largest exposure.
- The sector is down across the board on the day, including PACCAR (NASDAQ:PCAR) -3.1%, Navistar (NYSE:NAV) -9.1%, Daimler (OTCPK:DDAIF) -5.4%, Volvo (OTCPK:VOLVY) ADRS -6.1%, Supreme Industries (NYSEMKT:STS) -8.5%, and CNH Industrial (NYSE:CNHI) -6.6%.
Tue, Jun. 14, 1:51 PM
- EV truck maker Nikola Motors has taken a page out of the Tesla playbook by releasing pre-order information and scheduling an unveiling event for later in the year.
- The startup has taken down 7K reservations with deposits for the Nikola One electric truck. The reservations total $2.3B worth of orders. The Nikola One is promised to have 2,000-horsepower, 1,200 miles of range, and a 320-kWh battery.
- The class 8 semi-truck is due to be unveiled by the company at an event on December 2.
- "Our technology is 10-15 years ahead of any other OEM in fuel efficiencies, MPG and emissions. Weare the onlyOEM to have a near zeroemission truck and stilloutperform diesel truck runningat 80,000 pounds," says CEO Trevor Milton.
- "We believe wewill pass the current market leaderslike Daimler, PACCAR, Volvo andNavistar in sales orderswithin the next12-24 months," adds the exec.
- Related stocks: NAV, PCAR, OTCPK:GELYF, OTCPK:DDAIF, OTCPK:VOLVY, OTCPK:VOLVF.
Fri, Apr. 22, 3:50 AM
Mon, Apr. 11, 4:31 AM
- An experiment in which self-driving trucks crossed Europe has paved the way for adoption of the technology ahead of a crucial meeting of EU transport ministers this week.
- Six European truck companies - Volvo (OTCPK:VOLVF), Scania (OTC:SVKBF), Daimler (OTCPK:DDAIF), Iveco, DAF and MAN - took part in the project, in which they drove in connected convoys along highways.
- The technique, known as "platooning," permits trucks to communicate via wireless technology, allowing them to brake and accelerate together.
Fri, Feb. 5, 5:34 AM
- Volvo AB ADR B (OTCPK:VOLVY): Q4 EPS of SEK1.27
- Revenue of SEK79.6B (+2.7% Y/Y)
- The board proposed annual dividend of SEK3.00/share.
Wed, Jan. 6, 3:10 PM
- Truck orders rose sharply in December on a M/M basis, according to forecaster FTR.
- Net orders were up 70% from the level seen in November to 27,800 units. The monthly volume was down 36% from last year's mark.
- The improvement seen in December isn't expected to be enough to reverse some planned production cuts in the sector.
- Related stocks: PCAR, OTCPK:VOLVY, NAV, CMI, OTCPK:DDAIF.
Dec. 3, 2015, 11:48 AM
- Truck orders were weak in November, according to preliminary data from ACT Research.
- Class 5 to Class 8 vehicle orders fell 26% M/M and 37% Y/Y to 35,300 units.
- A glut of trucking inventory has crushed demand for Class 8 trucks. The level of medium-duty truck orders was more stable, but still came in lower than a year ago.
- Related stocks: PCAR, OTCPK:VOLVY, NAV, CMI, OTCPK:DDAIF.
Oct. 20, 2015, 6:55 AM| Oct. 20, 2015, 6:55 AM | 1 Comment
Oct. 19, 2015, 8:08 AM
- Westport Innovations (NASDAQ:WPRT) announces new agreements with Volvo (OTCPK:VOLVY) governing the development, commercial launch and supply of High Pressure Direct Injection 2.0 technology in its heavy-duty trucks over the next several years.
- For competitive reasons, further terms and conditions of the commercial agreements have not been disclosed.
Oct. 1, 2015, 11:57 AM
- Truck maker stocks trade at a wider discount to the S&P 500 on a key valuation measure, according to analysis from Bloomberg Intelligence.
- The group's 12-month P-E ratio of 9.122 is a 40% discount to the S&P 500 blended mark of 15.117. The gap was 28% in June.
- Bloomberg notes the group typically trades at a discount to the S&P 500 due to seasonal cycles.
- Related stocks: CMI, NAV, OSK, OTCPK:VOLVY, PCAR, OTCPK:DDAIF.
Sep. 17, 2015, 7:39 AM
- Volvo (OTCPK:VOLVY) reports truck deliveries rose 28% in Europe and by 13% in North America during August.
- The truck maker saw a 43% decline in deliveries in South America and 8% slide in Asia in the month.
- Total deliveries were up 3% to 12,116 trucks.