From the category archives: Industry News and Events

Industry News and Events

December and January Class 8 Orders were a Solid One-Two Punch

According to FTR and ACT Research (article here), January new Class 8 orders should come in at approximately 34,400. This is the second month in a row over 30,000 – the first time we’ve seen a two-month combined result this high since 2006...

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Convention Wrapup

This post may seem a bit late, seeing as the ATD/NADA Convention ended on Monday. But most attendees received an extra couple of days in New Orleans due to the weather that shut down the airport all day Tuesday and most of Wednesday...

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From the Convention #2: Define How your Used Truck Department Fits in to your Dealership Operations

In yesterday’s post, we briefly mentioned why used trucks are a potential revenue stream. This is only part of the equation...

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From the Convention: Don’t be Afraid of Used Trucks!

As we covered in today’s workshop at the ATD/NADA Convention (“Understand and Manage Used Trucks”), your used inventory can and should be considered a revenue stream, not a headache...

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Is the Federal Budget Deal the First Step Towards Accelerated Growth?

The recent budget compromise (when was the last time you heard those words in the same sentence?) reached in the House of Representatives last week was a refreshing example of legislators doing their primary job – drafting policy – instead of concentrating on the politics of grandstanding and brinksmanship more typical of recent budgetary periods...

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Supply of Domestic Crude Keeps Diesel Price Down… For Now

Transport Topics recently published an interesting article outlining the main factors behind the recent low prices of gas and diesel. Not surprisingly, increased domestic production of crude is the main driver of this trend. We are currently in a somewhat rare period where we can observe “natural” supply and demand play out in the marketplace...

 

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Fleets Plan to Bet More Heavily on Natural Gas

A recent Wall Street Journal article nicely summarizes statements large fleets have made regarding their plans to purchase natural gas trucks...

 

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Number of Reporting Dealers Breaks 200

For the first time in the ATD/NADA Official Commercial Truck Guide’s® history, the number of individual dealers submitting sales reports to the company has broken the 200 mark. August’s total was 205, up from a previous high of 182 in June of this year. Increased incentives from OEM’s to encourage dealers to participate are largely responsible for the increase. 

Individual dealers provide NADA with approximately 54% of the total commercial vehicle retail sales data we collect. The remainder is provided by OEM’s and OEM-linked used truck operations. Individual dealers also contribute to NADA’s wholesale database, which is combined with auction data. 

The more sales data we collect, the more accurately we can reflect the market. This benefits all of our customers – dealers, finance companies, insurance companies, government agencies, consulting firms, and other segments.

To become a reporting dealer, please contact Chris Visser at cvisser@nada.org.

Oil Production vs. Price of Gas and Diesel

An Energy Information Administration report released Wednesday stated that crude oil production in the United States is now at its highest level since May, 1989. Fracking is of course a major contributor to this increase. The first thing that pops into most people’s heads when they hear news like this is, “why are gas and diesel so expensive if we’re producing so much crude?” The answer is because there’s a big difference between crude oil and refined products.    The US retains the vast majority of its crude (currently exporting less than 2% to Canada and less than 0.2% to China), while refined products are exported all over the world. In other words, refiners sell their gas and diesel where it makes the most financial sense. That could be domestically or it could be internationally.    So an increase in domestic crude oil production is great news for US refiners, who can generally purchase that oil cheaper than imported crude. Just don’t expect these refiners to keep their products ...

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Truck Plant Layoffs – What Are the Implications?

As you know by now, Daimler, Mack, and Volvo recently announced layoffs at manufacturing facilities, and Navistar closed its Garland, TX plant (). This is my take on this news: I’m mildly surprised, but still not overly concerned about long-term conditions. These layoffs are most likely a reaction to revised short-term order forecasts. Most media outlets have neglected to mention that the layoffs are not permanent – manufacturers are free to call the workers back once order activity picks up. As we all know, new truck buyers have been following an extremely conservative investment strategy since mid-2012, due mainly to uncertainty about the fiscal cliff and debt ceiling. The Legislative and Executive branches should come to some agreement in the next month – most likely a combination of compromise and postponement of deadlines. The business community will most likely be mildly unhappy with the compromise, but guess what – the economy’s going to continue to recover, and at an accelerated pace once further ...

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