Business

Shortages of components for new heavy-duty trucks are growing, leading vehicle manufacturers to cut back their sales forecasts as their backlog of truck orders continues to mount, executives said.

Three of the world’s largest heavy-duty truck makers reported significant increases in profits and revenue for the three months ended June 30, with North American results playing a large role in all cases.

James Welch, installed last week as CEO of financially challenged YRC Worldwide, freely admits that he carefully considered his “homecoming” for several weeks before accepting the task of turning around a company that lost more than $2 billion between 2008 and 2010.

A coalition of oil users that includes American Trucking Associations recently urged congressional leaders to “fully fund and defend” rules in the new financial reform law designed to curb excessive speculation in oil futures.

UPS Inc., the largest corporation in North American freight transportation, earned more than $1 billion in net income during the second quarter for the second time since 2007, in spite of the precarious economy.

The National Transportation Safety Board last week issued a slate of comprehensive regulatory recommendations aimed at reducing the number of cargo tank truck rollovers by mandating the installation of roll stability technologies and improved cargo tank design.

American Trucking Associations has formally announced several highlight events of its 2011 Management Conference & Exhibition, scheduled for Oct. 15-18 in Grapevine, Texas.

Less-than-truckload giant YRC Worldwide Inc. reported a second-quarter loss of $39.1 million, but said it had its first operating profit since 2008 in the second quarter and announced a restructuring that makes lenders the majority owners of the carrier.

U.S. retail diesel prices rose for the third consecutive week, increasing 2.6 cents a gallon to a national average of $3.949, the Department of Energy reported.