Rates will improve in 2025, however, as will volumes, FTR Vice President of Trucking Avery Vise said during the research group’s Q4 2024 Food Industry Economic and Transportation Update.

Following the deal, Holt Truck Centers will have 35 locations, which the parent company said would make it the third-largest International Motors dealership in the U.S.

Profit at International Motors almost doubled year on year in Q3 as the OEM cleared a delivery backlog caused by a Q2 fire at a mirror supplier, with truck sales jumping more than 40%.

“Securing these two sites in California is a significant step forward in our mission to support the electrification of commercial fleets,” said Sylvia Hendron.

Autonomous electric yard tractor software developer Outrider raised $62 million in an oversubscribed Series D financing round, it said Oct. 24.

Tesla expects production of its Semi Class 8 tractor to accelerate to full throttle by the end of 2026, according to a senior executive, as the automaker offers more details about the vehicle.

Looking forward, Chief Financial Officer John Diez said Ryder expects earnings growth in the fourth quarter as a result of its contractual portfolio.

Volvo Group closed a $40 million deal to buy Commercial Vehicle Group’s Kings Mountain, N.C., cab assembly operations in early October, it said when releasing third-quarter 2024 earnings.

The research, published Oct. 18, marked NACFE’s first analysis of alternatives available to fleets, with the introduction of all-electric TRUs in its early stages.

Paccar Inc.’s profit in the third quarter fell as the truck market continues to normalize, but still beat analyst expectations.