Updated: May 23
During the first month of 2020, we talked about the first challenges that are coming to the trucking industry as well as rising positivity among truckers and companies. But the industry is constantly moving, shifting and changing and important trucking news is always plenty to explore and be aware of. Therefore, let’s end the month of January strong with the top 5 most impactful and intriguing trucking news that recently seen daylight.
Table of contents: Record-breaking Revenues in Truck Manufacturing Multiple Trucking Companies Featured on Forbes List Trucking news report Texas-based Carrier to Shut Down Another Californian Law Affecting the Trucking Industry Freight, Businesses & Logistics Touched by Coronavirus
1. Record-breaking Revenues in Truck Manufacturing
A global leader in the manufacture, customer support and design of high-quality premium trucks PACCAR recently recorded a class 8 truck order slowdown on the fourth-quarter of 2019. However, the story of its parent company of Kenworth and Peterbilt trucks and the total revenue for the whole of 2019 is completely different.
Among many other trucking news circling, PACCAR showcased record-breaking revenues of $25.60 billion which is up to 9% from the 2018 numbers of $23.50 billion.
The revenue for the last quarter had a slight downgrade which did not affect the overall success for the year 2019 and trucking news like these only shows how truck manufacturing is not slowing down.
2. Multiple Trucking Companies Featured on Forbes List
Forbes – one of the most iconic magazines on the planet composed its annual list of most successful and admired companies on the planet. All based on a survey of more than 3,000 executives, analysts, and directors.
As Apple topped the list for the 13th straight year followed by Amazon and Microsoft in the top 3, trucking-related companies have also taken the list quite by storm!
Federal Express, a multinational delivery service based in Memphis, Tennesse takes the highest rank (15th) among trucking companies. Other more familiar companies include Paccar, Volvo, XP Logistics and more.
3. Trucking news report Texas-based Carrier to Shut Down
One of the biggest shutdowns this year so far is without a doubt the Flatbed carrier TK Transport from Clute, Texas. According to various reports and trucking news – the decision to cease operations came due to rising insurance costs, government regulations and weak spot market.
The company assured that the truck drivers will be paid and not left stranded on the road while trying to close the business the right way.
They also added that a list of companies hiring in the area will be provided for drivers and pointed out a need for the trucking industry to shift to a real-time payment system such as those like UPS, FedEx or Amazon.
4. Another Californian Law Affecting the Trucking Industry
We already saw one Californian law all over the trucking news recently when it posed a threat to thousands of truck drivers and the trucking industry in California as a whole. As that law has been halted, a new one appears.
It took effect just now in January and it will require all trucks and buses to have engine models of at least 2010. Tens of thousands of notices are already issued for trucks with expiring registrations while thousands are known to be already noncompliant with the regulations and can’t be registered.
Approximate numbers for overall measures are said to be 420,000 heavy-duty trucks and around 80,000 of them could not meet the new requirements. All of this is due to California and Los Angeles ranking number one on the list of most-polluted cities and areas in the US.
5. Freight, Businesses & Logistics Touched by Coronavirus
Coronavirus news and updates are everywhere, and now the impact is reaching carriers across the globe. Our more-than-ever interconnected world and logistics might crumble and spark a new crisis.
World Health Organization could declare an international health emergency in the upcoming days and various carriers are already shutting down flights across North America and Europe.
For now, the trucking industry in the US is operating as always but that could change if the trend continues in the same direction with the same or even greater acceleration.