Volvo Group Q2 Profit Nudges Higher, Margin Improves
Volvo Group posted net income of $1.06 billion, or 52 cents per share, in the three months that ended June 30, compared with $1.03 billion, or 50 cents, in the year-ago period, the company said.
Nikola Inks Hydrogen Fuel Supply Deal for FCEV Trucks
Nikola Corp. has reached a deal to buy hydrogen from BayoTech to fuel the truck manufacturer’s Class 8 Tre fuel cell electric vehicles, it said.
June Class 8 Sales Rise 7.7% Year-Over-Year
U.S. Class 8 retail sales in June rose 7.7% compared with the year-ago period, but slid marginally compared with May, according to Wards Intelligence.
Hyundai Translead CEO Sees Trailer Market Remaining Softer
The new leader of Hyundai Translead said that while the trailer market was softer through the first half of this year compared with year-ago levels, he sees pockets of strength heading into 2024.
Yellow Gains Financial Targets Waiver
Yellow Corp. will not have to meet certain financial targets under a deal with its lenders, winning valuable breathing space as it battles the Teamsters union and the threat of bankruptcy.
Diesel Prices Jump an Average of 3.9¢ to $3.806 a Gallon
On-highway diesel prices climbed 3.9 cents to a national average of $3.806 a gallon, according to Energy Information Administration data released July 10.
Forecast Upped for Class 8 Registrations as Fears Ease
New registrations for Class 8 trucks are set to total 249,836 this year, according to S&P Global Mobility, a jump of 12% compared with its expectations at the start of the year.
Nikola’s Latest Bid to Secure Funds to Advance FCEV Fails
Nikola’s latest bid to issue more shares and secure the funds needed to advance its Class 8 hydrogen fuel cell truck ambitions failed, it said July 6.
Diesel Prices Drop 3.4¢ to $3.767 a Gallon
Diesel prices dropped another 3.4 cents to a national average of $3.767 per gallon, according to weekly data released by the Energy Information Administration July 3.
TuSimple Eyes US Exit, Hires Bankers
TuSimple is exploring strategic alternatives for its U.S. operations, including a sale, which would see the self-driving truck technology provider focus on Asia-Pacific activities.