Equipment

Vehicle component manufacturer Dana Inc. saw net income fall 62% and revenue decline in the first quarter amid a pileup of weakness in the heavy-duty truck market, curtailed production and the spread of the novel coronavirus.

Eaton Corp. reported declines in first-quarter net income and revenue as the spread of the novel coronavirus pandemic more than doubled previously expected declines in sales.

The Department of Justice has filed a legal document with the U.S. Court of Appeals for the District of Columbia supporting federal regulators’ authority to enforce an Obama-era greenhouse gas emissions rule to include first-ever federal regulation of greenhouse gases and fuel efficiency for trailers.

Daimler AG reported net income plunged 92%, and revenue slipped 6% in the first quarter as a result of the novel coronavirus.

Ryder System Inc. reported a net loss of just over $100 million in the first quarter and revenue slipped 1% as it adjusted to the impact of COVID-19 on the economy and its markets.

Class 8 used truck sales in March slipped 12%, and the average price dropped about $7,000 compared with a year earlier, ACT Research reported.

Federal policymakers crafting additional ways to restore economic stability amid the COVID-19 pandemic should consider suspending a World War I-era federal excise tax on the sale of new trucks and trailers, a coalition of freight stakeholders said April 28.

Cummins Inc. reported first-quarter net income and revenue fell as key domestic and global markets weakened as the novel coronavirus spread.

Two tire manufacturers that had suspended production due to the COVID-19 crisis have restarted their factories.

The world’s biggest maker of mining and construction equipment is predicting that the pain from the coronavirus crisis is far from over.