Technology

January’s average retail sales price for a used Class 8 truck burst past $88,000 to set a new monthly record and post an 83.2% gain compared with a year earlier, ACT Research reported.

Lucid Group Inc. slumped after lowering its production target for this year to between 12,000 and 14,000 cars, down from a previous goal of 20,000, citing “extraordinary” challenges with logistics and its supply chain.

President Joe Biden is taking on the concentrated market power of ocean shipping companies, although officials at the agency overseeing the industry indicated they lack both the jurisdiction and, for now, any evidence of wrongdoing.

Toyota Motor Corp. will resume work at all its Japanese factories March 2 after a one-day shutdown, limiting the fallout from a cyberattack on one if its key suppliers.

Autonomous vehicles are mostly electric so far. That’s one of the main conclusions of BloombergNEF’s just-published annual report analyzing the state of AV testing programs in the U.S. and China.

Cruise LLC, the autonomous vehicle company that is majority-owned by General Motors Co., named founder Kyle Vogt its full-time chief executive officer.

No one asked for these challenges: not the truck buyers staring at a rising tide of freight demand, and not truck makers delivering as many new heavy-duty trucks as they can to customers, but still way too few.

Chevron Corp. agreed to buy green diesel producer Renewable Energy Group Inc. for $3.1 billion in the biggest low-carbon deal of CEO Mike Wirth’s four-year tenure.

Hyliion Holdings Corp. announced private fleet GreenPath Logistics ordered 50 Hyliion Hypertruck ERX powertrains.

Autonomous truck software developer Embark Trucks Inc. announced a strategic partnership with Alterra Property Group, a real estate investment company focused on industrial outdoor storage properties, to identify and launch transfer-point sites across the Sunbelt.