market share

Volvo Group surges to Q2 profit record amid signs of cooldown

Volvo Group reported record second-quarter profits with strong sales offset by one-time charges for getting out of the bus business in the U.S. and settling price-fixing allegations in Europe.

The strong results came despite lower truck orders and declining market share. Still, Volvo increased industrywide estimates for heavy truck sales in Europe and North America. It now expects 330,000 in each market, up from 320,000, based on larger fleets continuing to replace older vehicles.

Volvo’s Q2 net...

https://www.freightwaves.com/news/volvo-group-surges-to-q2-profit-record-amid-signs-of-cooldown

Volvo Group hits Q2 trifecta of higher sales, profit and share gains

Row of four bluish purple Volvo Class 8 trucks

Volvo Group checked the boxes for higher sales, profits and market share for its trucking business in the second quarter despite ongoing supply chain disruptions.

“Our customers in most regions are benefiting from high transport and infrastructure activity, which continues to drive good demand for our products and services,” Martin Lundstedt, Volvo president and CEO, said in an earnings report.

But order backlogs and lead times for new truck deliveries are long. That is forcing the Goteborg,...

https://www.freightwaves.com/news/volvo-group-hits-q2-trifecta-of-higher-sales-profit-and-share-gains

Kenworth overhauls medium-duty truck lineup for first time in 30 years

PHOENIX — Kenworth Truck Co. revealed its first all-new medium-duty trucks in 30 years on Monday, featuring taller and wider cabs adapted from their Class 8 siblings. 

The PACCAR Inc. (NASDAQ: PCAR) brand captured 11.7% of the medium-duty market in 2020. That was a record despite an aging lineup.

Now, with fresh products coming in the third quarter from Class 5 to a small Class 8, Kenworth is targeting leasing and sales to individuals at the lower end of the range. It emphasis has been Class 7...

https://www.freightwaves.com/news/kenworth-overhauls-medium-duty-truck-lineup-for-first-time-in-30-years

Zhoushan VLSFO Prices Lag Crude Gains

Bunker fuel prices for very low-sulphur fuel oil (VLSFO) at China’s largest bunker port of Zhoushan have lagged crude gains so far in 2021 because of rising domestic refinery supplies, which is increasing competition for market share as supply outpaces demand, says an article published in argusmedia.

Ice Brent Crude Settlement

Zhoushan’s VLSFO bunker prices rose by 19pc during 4 January to 18 February to around $508/t, with the front-month Ice Brent crude settlement rising by 25pc to nearly...

https://mfame.guru/zhoushan-vlsfo-prices-lag-crude-gains/

Volvo Group reports lower 2020 sales but strong profit margins

From the depths of a pandemic-impacted second quarter, Sweden’s Volvo Group (OTC: VLVLY) finished 2020 with lower sales but a strong profit margin. New truck orders surged between the third and fourth quarters.

“We demonstrated that we have significantly improved our volume and cost flexibility, which were crucial factors behind our earnings resilience in 2020,” President and CEO Martin Lundstedt said.

Volvo revenues fell 22% — almost SEK 100 billion ($11.8 billion) — compared to a year earlier....

https://www.freightwaves.com/news/volvo-group-reports-lower-2020-sales-but-strong-profit-margins

PACCAR reports lower Q4 sales and earnings

PACCAR Inc. (NASDAQ: PCAR) reported lower revenue and profits in the fourth quarter, reflecting an overhang from the coronavirus pandemic.

The Bellevue, Washington-based truck maker reported fourth-quarter revenue of $5.57 billion compared to $6.12 billion reported in the same period in 2019. A consensus of analysts pegged revenue at $5.15 billion, according to investor site Seeking Alpha.

Earnings were $405.8 million, or $1.17 per diluted share, compared to $531.3 million, or $1.53, in the...

https://www.freightwaves.com/news/paccar-reports-lower-q4-sales-and-earnings

Volvo Group sees modest Q3 recovery

Sweden’s Volvo Group (OTC: VLVLY) reported lower sales and income in the third quarter. But the gap compared to year-ago results narrowed with rebounding truck orders responding to strong freight demand.

Third-quarter net sales fell 16% to SEK 76.9 billion ($8.71 billion) compared to SEK 98.7 billion ($11.18 billion). Adjusted operating income was SEK 7,217 million ($816.73 million) compared to SEK 10,885 million ($1.23 billion) in the year-ago quarter. The adjusted operating margin was 9.4%...

https://www.freightwaves.com/news/volvo-group-sees-modest-q3-recovery

LA and Long Beach ports could learn from Mister Rogers

Mister Rogers sang songs and staged puppet shows to teach us how to be good neighbors.

Well, Mister Rogers is dead and the world has gone to hell in a handbasket. Perhaps we have set aside being neighborly during the COVID-caused economic firestorm that is proving fatal for businesses large and small. 

For our story, we turn to California’s San Pedro Bay neighbors, a “disappointing” press release and the lack of agreement on implementation of a $10-per-twenty-foot-equivalent-unit (TEU) clean...

https://www.freightwaves.com/news/la-and-long-beach-ports-could-learn-from-mister-rogers

DTNA, PACCAR Q2 market share grows as sales plummet

Second-quarter sales plummeted at Daimler Trucks North America (DTNA) and PACCAR Inc. (NASDAQ: PCAR) even as market share improved at both companies.

DTNA’s Class 8 share for Freightliner and Western Star trucks rose 1.9%, to 39.2%, in the April-to-June period. It is up 0.2 percentage point at 40.1% through the first six months of the year. Its Class 6-7 truck share stood at 35.2%, up 0.8 percentage point from 34.4% a year ago.

PACCAR’s combined  Kenworth and Peterbilt share stood at 29.6%, 0.5...

https://s29755.pcdn.co/news/dtna-paccar-q2-market-share-grows-as-sales-plummet

California governor urged to reverse ports’ receding market share

California Gov. Gavin Newsom got a letter Monday asking that the state take action to reverse the loss of market share at West Coast container ports.

The Pacific Merchant Shipping Association (PMSA), the first signatory, was joined by such organizations as the California Trucking Association, Harbor Trucking Association, California Railroad Association, Future Ports, Pacific Maritime Association, National Retail Federation, Agriculture Transportation Coalition, and Pacific Coast Customs Brokers...

https://www.freightwaves.com/news/california-governor-urged-to-reverse-ports-receding-market-share

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