Volvo CEO: Trucking Paying for Good Times

CHICAGO — Trucking is starting to pay the price for the go-go economy of the last five years, the head of Volvo Trucks North America said in a May 16 speech.

“Carriers had an almost irrational urge to buy new trucks,” Marc F. Gustafson told the nearly 300 trucking executives attending the annual meeting of the National Tank Truck Carriers.

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North American sales of Class 8 trucks jumped from 218,000 in 1997 to 309,000 in 1999, he said.

“The industry grew almost as much as the Dow Jones, but no one has talked about the speculative nature of the investment bubble for trucking.”



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