Class 8 truck production

Universal Logistics announces $50M truck division expansion in Virginia

Universal Logistics Holdings Inc. announced a 254,000-square-foot expansion in Roanoke, Virginia, to support its Class 8 truck parts subassembly division.

The $50 million expansion to the company’s Lee Highway building will create 45 direct jobs and “will be instrumental in catering to the growing demands of the heavy truck industry,” said Universal CEO Tim Phillips.

“Our expansion in the Roanoke region represents an exciting phase for Universal’s heavy truck division as we fortify our commitment...

https://www.freightwaves.com/news/universal-logistics-announces-50m-truck-division-expansion-in-virginia

Truck manufacturer Paccar knocks Q1 financials out of the park

The Peterbilt Model 579 drives across a bridge

Paccar Inc. posted record Q1 sales and earnings, increasing production despite stubborn supply chain disruptions. The company reaped benefits from a practically all-new lineup of medium- and heavy-duty trucks introduced over the last year.

“Paccar’s investments in vehicle, powertrain and technology initiatives are delivering increased profitability,” CEO Preston Feight said in a press release.

First-quarter 2022 sales increased to $6.47 billion compared to $5.85 billion in the first quarter of...

https://www.freightwaves.com/news/truck-manufacturer-paccar-knocks-q1-financials-out-of-the-park

Inability to produce pushes Class 8 orders to lowest November in 26 years

Class 8 truck orders in November were the lowest for that month in 26 years, reflecting a huge backlog of unbuilt trucks rather than a demand issue.

The backlog of bookings in queue at major OEMs exceeded 14 months, according to ACT Research. That means that with few exceptions, an order for a Class 8 power unit placed this month would be delivered in February 2023.

“Long backlog lead times resulting from ongoing supply constraints continue to pressure new order activity,” said Kenny Vieth, ACT...

https://www.freightwaves.com/news/inability-to-produce-pushes-class-8-orders-to-lowest-november-in-26-years

‘A major forecast haircut in a period of ripping demand’

The lingering shortage of semiconductors, the spread of the delta variant of COVID and constrained supplies of other components led ACT Research to dramatically reduce its projection for heavy-duty truck production on Friday.

The Columbus, Indiana-based business management consultancy lowered its Class 8 truck production forecast from 308,000 to 265,000 with “additional downside risk,” Kenny Vieth, ACT president and senior analyst, told FreightWaves.

“For North America heavy trucks, the result...

https://www.freightwaves.com/news/a-major-forecast-haircut-in-a-period-of-ripping-demand

Dana raises sales and profit estimates after strong Q1 results

Commercial vehicle driveline supplier Dana Inc. (NYSE: DAN) beat top and bottom line analyst expectations in Q1 despite supply chain constraints and rising commodity prices.

The Maumee, Ohio-based company experienced less exposure to the global semiconductor shortage than it expected.

“We saw our customers diverting chips toward the key truck platforms that we produce,” Jonathan Collins, Dana’s executive vice president and chief financial officer, said on the company’s earnings call Wednesday.

The...

https://www.freightwaves.com/news/dana-raises-sales-and-profit-estimates-after-strong-q1-results

Upbeat PACCAR raises truck production estimate

A rebounding U.S. economy should help sustain the recent growth in new truck orders, PACCAR Inc. (NASDAQ: PCAR) CEO Preston Feight said Tuesday.

“Basically the truck industry is doing pretty well,” Feight said on a call with analysts following the release of fourth-quarter earnings. “We don’t expect that to change. Truck utilization is high. We’re even starting to see signs of green shoots in the oil and gas industry. All of that combined points to a good year for us in the U.S. and Canada.”

The...

https://www.freightwaves.com/news/upbeat-paccar-raises-truck-production-estimate

Makeup orders boost tractor and trailer production — for now

Robotic assembly at Daimler Trucks North America

Makeup production of tractors and trailers is creating a mini-boom for equipment manufacturers. It is even leading to rehiring of some laid-off workers. But how long will the good times roll?

“June through August, which are usually slow months, will all be good months,”  Dave Giesen, vice president of sales at Stoughton Trailers in Stoughton, Wisconsin, told FreightWaves. “The first five months of the year were really slow. We need months like this to get some backlog. We’re all crossing our...

https://www.freightwaves.com/news/makeup-orders-boost-tractor-and-trailer-production-for-now

Class 8 orders went negative in April

Row of Mack Trucks

April already was the worst month for Class 8 truck orders in a quarter-century. A late pullback of 10,000 bookings by one manufacturer dropped the month into negative territory with little improvement expected in May and no significant recovery until 2022.

That was the conclusion of industry experts Tuesday at the 13th annual Wolfe Research Global Transportation & Industrials Conference conducted online because of the coronavirus pandemic.

Tepid projections

ACT Research lowered its estimates for...

https://s29755.pcdn.co/news/class-8-orders-went-negative-in-april

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