According to FTR’s projections for its Trucking Conditions Index, a combination of drastic declines in freight volumes, utilization, and rates due to the COVID-19 pandemic could lead to the worst overall trucking conditions on record during the second quarter of this year.
Incentive spending is projected to reach $4,159 (up 6% or $246), the highest level ever for the third quarter and just $28 short of the all-time quarter high set in Q4 2017.
UPS is expecting a record 1.4 million returns on Jan. 3 after averaging more than 1 million returns every day before Christmas in December.
Hyundai Motor America's U.S. sales chief, Derrick Hatami, is leaving the company after sales fell 18% in May.
Jaguar Land Rover has been named the largest automotive manufacturer in Britain with the automaker accounting for more than 30% of all domestic car production last year, according to company.
The industry is expected to sell 1.13 million new vehicles in January, a 3% decline over the same time last year, and a 33% decline from the month before, according to Kelley Blue Book, resulting in a seasonally adjusted annual rate (SAAR) of 17.4 million.
Policy makers at the Federal Reserve on Wednesday announced an increase in interest rates for the first time this year and only the second time since the depths of the Great Recession and there are expected to be at least some repercussions for trucking.
Buick has come in at the top of J.D. Power's 2016 U.S. Sales Satisfaction Index Study for mass market brands, while Porsche ranks highest among luxury brands, J.D. Power has announced.
The average fuel economy of new vehicles sold in September was down 0.1 mpg 25.2 mpg from August, according to the University of Michigan's Transportation Research Institute (UMTRI).
Commercial vehicle sales drove a rebound in Australian vehicle sales in August, which increased 4.6% over August 2015 figures, according to a report by the Australian Federal Chamber of Automotive Industries.
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