Engine maker Cummins Inc. tracks with OEM projections for solid North American demand for new trucks for at least the first half of 2023. If the Chinese market recovers, look for a possible profit spike.
Freight rates, especially spot rates that account for roughly 15% of the market that quote loads by the day or hour, have dropped significantly. Contract rates are not far behind. But pent-up demand for new equipment remains a positive tailwind, manufacturers agree.
“We continue to see healthy...
https://www.freightwaves.com/news/cummins-on-board-for-solid-23-in-truck-equipment