Slumping Sales Lead to Lower Earnings For Truck Makers in North America
Weak Class 8 truck sales around the world led to plunging revenue and either losses or vastly diminished first-quarter profits for three of the four major heavy-duty truck manufacturers and both independent engine makers operating in North America.
May 4, 2009Cummins’ First-Quarter Profit Plunges
Diesel engine maker Cummins Inc. said Thursday its first-quarter profit plunged and that its engine sales would decline by more than 30% this year.
April 30, 2009McLeod Acquires Logistics Software Firm
McLeod Software said Wednesday that it had purchased Intergrated Logistics Execution Network Systems, or iLENS, a logistics software company.
April 29, 2009Ryder’s 1Q Income Plunges 88%
Ryder System said Wednesday its first-quarter profit fell 88% and that it was suspending earnings forecasts for future quarters due to the uncertain economy.
April 22, 2009Hino Posts $628 Million Loss on Pension Charges
Hino Motors Ltd., Japan’s largest heavy-duty truck maker, had a wider-than-expected annual loss because of falling sales and one-time costs from a change in its pension system, Bloomberg reported Tuesday.
April 21, 2009Eaton Posts $52 Million First-Quarter Loss
Vehicle parts manufacturer Eaton Corp. said Monday it lost $52 million on the first quarter as sales slumped.
April 20, 2009Raising the Bar on Service
A few more customers may be peeking into the showroom, but buying volume continues to limp along near 25-year lows, according to the latest report on Class 8 truck sales.
April 20, 2009Landstar’s First-Quarter Income Declines
Truckload carrier Landstar System said its first-quarter net income fell to $13.9 million, or 27 cents a share, from $23.7 million, or 45 cents, a year ago.
April 16, 2009ArvinMeritor Says Cuts Have Saved $430 Million
Truck components maker ArvinMeritor said Monday it has saved about $430 million on an annual basis in cost-reduction measures taken since October.
April 13, 2009Federal Researchers Confirm Claims Single Wide Tires Boost Fuel Economy
Federal researchers said they have confirmed manufacturers’ claims that single wide tires can boost a truck’s fuel economy, but one tire expert said they may not be suitable for every fleet.
April 13, 2009