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