Rush Enterprises

Truck Talk: Technology ramblings edition

This week, we share musings from Rusty Rush, CEO of the nation’s largest network of truck dealerships and answer three questions posed to PACCAR CEO Preston Feight on autonomous partner Aurora. Of course, we have some of the people moves and partnerships you may have missed. You can get Truck Talk delivered via email by subscribing at https://www.freightwaves.com/truck-talk.

If you don’t want to know, don’t ask

Rusty Rush will never be accused of giving a short answer when a long one will do. The...

https://s29755.pcdn.co/news/truck-talk:-technology-ramblings-edition

The Daily Dash: Pension bailout possible for Yellow, ABF drivers; record Q4 for XPO

The Daily Dash is a quick look at what is happening in the freight ecosystem. In today’s edition, the COVID-19 relief bill working through Congress may be the vehicle through which pension reform happens for multiemployer pension plans, including those of Yellow and ABF Freight. Plus, a strong freight market led to a record quarter for XPO, and Uber Freight posts revenue growth in Q4.

Legislative fix?

The COVID-19 relief bill could serve as a vehicle to bail out multiemployer pension funds,...

https://www.freightwaves.com/news/the-daily-dash:-pension-bailout-possible-for-yellow-abf-drivers;-record-q4-for-xpo

Q4 sales helped dealership giant Rush Enterprises limit 2020 declines

Rush Enterprises (NASDAQ: RUSHA) reported lower new and used truck sales in 2020 because of COVID-19. But Class 8 business improved in the fourth quarter as freight demand brought a surge in equipment orders.

The nation’s largest chain of dealerships sold 10,670 new Class 8 trucks at retail, a decrease of 28.8% compared to 2019. It accounted for 5.5% of the new U.S. Class 8 market. Industrywide, Class 8 retail sales were down 30.5%, according to ACT Research. 

“Our Class 8 new truck sales results...

https://www.freightwaves.com/news/q4-sales-helped-dealership-giant-rush-enterprises-limit-2020-declines

Used truck sales recovery firming up for all players

Used truck pricing pressure is easing as stakeholders from manufacturers to dealers report growing sales momentum despite the lingering pandemic — and because of it.

As the tail of the dog in trucking, used truck sales fall when new truck sales slow. So when major manufacturers shuttered assembly plants for six weeks in March and April, used equipment all but froze. Already low prices dropped even further. Loose capacity heading into the pandemic tightened. 

However, in recent months as freight...

https://www.freightwaves.com/dealership-network-rush-enterprises-sees-profit-margins-double-from-q2-to-q3

Rush Enterprises crushes Q3 sales and earnings projections

Heavy-duty truck dealership network Rush Enterprises (NASDAQ: RUSHA) reported lower sales and earnings in the third quarter but far exceeded analyst estimates.

Earnings per share decreased 14.29% over the past year to $0.60. Analysts expected $0.32 per share.

Revenue of $1,18 billion declined by 26.3% from the same period last year. Analysts estimated revenue of $1.08 billion

With 120 locations, Rush Enterprises is the only publicly traded, standalone commercial truck dealer in North America. It...

https://www.freightwaves.com/news/rush-enterprises-crushes-q3-sales-and-earnings-projections

Freight demand takes Class 8 truck orders for a ride in July

Class 8 truck orders in July reached 20,000 for the first time in six months as growing freight demand created a need for more equipment despite economic uncertainty over the coronavirus pandemic.

FTR Transportation Intelligence reported a 28% month-over-month increase. It pegged the rolling 12-month average for orders at 168,000, up from 159,000.

“The order activity for both June and July was more robust than expected and is good news for the equipment producers,” said Jonathan Starks, FTR chief...

https://www.freightwaves.com/news/freight-demand-drives-up-class-8-truck-orders-in-july

+ More