Service Industry Expands Modestly as Activity Cools
The U.S. service sector expanded only modestly in April according to the Institute for Supply Management, restrained by the weakest pace of business activity in nearly three years.
May 3, 2023Fed Raises Key Rate Again, but Hints at Possible Pause
The Federal Reserve reinforced its fight against high inflation May 3 by raising its key interest rate by a quarter-point to the highest level in 16 years.
May 3, 2023Senators Tout FCC’s 5.9 GHz Spectrum Waiver
U.S. Senate Transportation leaders touted the Federal Communications Commission’s recent decision to open access to a band of the transportation spectrum.
May 3, 2023Electrified Fleet Grid Upgrades Could Benefit Utilities
Paying for power grid upgrades trucking companies need to charge electrified medium- and heavy-duty fleets would provide a long-term financial boon to utilities.
May 3, 2023March Used Class 8 Sales Down 20% Year-Over-Year
Sales of used Class 8 trucks in March decreased 19.8% year-over-year to 20,200 units from 25,200, ACT Research reported. However, month-over-month sales rose 14.8%.
May 3, 2023Tesla’s Swelling Inventory Suggests Continued Price Cuts
In the two weeks since Tesla alarmed investors by revealing how much of a toll discounts were taking on its profit margins, Elon Musk has bumped prices back up across the lineup.
May 3, 2023Ford Beats Q1 Profit Estimates, Warns of Opaque 2023 Outlook
Ford Motor Co. beat Q1 profit estimates on higher pricing and increased volumes, but left its full-year outlook unchanged over concern about pricing power and economic uncertainty.
May 3, 2023Clean Truck Technologies Developing at Rapid Pace
ANAHEIM, Calif. — The rollout of zero-emission commercial vehicles and the infrastructure to support it is proceeding with added urgency.
May 3, 2023RXO Reports $1 Billion Revenue for First Full Quarter
RXO on May 3 reported revenue exceeding $1 billion in its first full quarter as an independent company. The Charlotte, N.C.-based business formerly operated within XPO.
May 3, 2023Paccar, Toyota Plan to Produce Hydrogen Fuel Cell Trucks
ANAHEIM, Calif. — Truck manufacturer Paccar Inc. and global automaker Toyota Motor Corp. are moving forward with a partnership to produce fuel cell electric Class 8 trucks.
May 3, 2023