auto hauler

Newly public Proficient has strong Q2, makes first post-IPO acquisition

Proficient Auto Logistics has two quarters in the books – at least in terms of financial reports – giving investors a better look at the auto carrier, which is also getting bigger.

The company, essentially a rollup of several auto carriers under the Proficient banner that went public in May, posted an operating ratio of 91.8% for the quarter. A year ago, the components of the current company posted a unified OR of 92.7%.

Proficient (NASDAQ: PAL) , in order to comply with Securities and Exchange...

https://www.freightwaves.com/news/newly-public-proficient-has-strong-q2-makes-first-post-ipo-acquisition

Acertus acquires vehicle transporter RCG Logistics

Automotive logistics-as-a-service platform Acertus announced Tuesday its acquisition of transportation provider and vehicle resale company RCG Logistics. Terms of the deal were not disclosed.

The acquisition positions Acertus as a comprehensive platform capable of serving a wide range of vehicle types and offerings as the global automotive market is forecast to grow at a compound annual growth rate of 4.5% to $28.7 billion by 2030, according to Contrive Datum Insights.

RCG Logistics will...

https://www.freightwaves.com/news/acertus-acquires-vehicle-transporter-rcg-logistics

Former auto hauler sentenced to 30 months for faking FMCSA records

Former trucking company owner Michael Chaves was sentenced on Wednesday to 30 months in federal prison after pleading guilty last year to falsifying government records, aggravated identity theft, bank and wire fraud, and tax evasion.

The U.S. District Court for the District of Rhode Island also ordered Chaves, 41, who had owned CAT Inc., an East Providence, Rhode Island, vehicle-transport carrier, to pay restitution to Amazon [NASDAQ: AMZN] for an alleged package return scam that bilked the...

https://s29755.pcdn.co/news/former-auto-hauler-sentenced-to-30-months-for-faking-fmcsa-records

Volvo announces new auto hauler, details VHD vocational truck

Volvo Trucks auto hauler

COVID-19 took some of the thunder away from Volvo Trucks North America (VTNA) in March, but the company is regaining some of the spotlight now.

VTNA held a virtual press conference on Thursday highlighting some of the key attributes of its new VHD model, introduced at ConExpo in March, announcing a new auto hauler option, the VAH, and touching on some of the impacts the COVID pandemic has had on the company.

One adjustment Volvo has had to make is shifting to a “virtual walk-around” for...

https://s29755.pcdn.co/news/volvo-announces-new-auto-hauler-details-vhd-vocational-truck