Profits and sales at Paccar, the owner of the Peterbilt and Kenworth truck brands, plunged in the fourth quarter as the market for big rigs turned sour.
Family-owned Thompson Machinery turns to start up Nikola Motors’ hydrogen-electric semi to fill a gap left by Caterpillar’s departure from the vocational truck market.
When announcing third quarter financial results, electric truck and drone package delivery manufacturer Workhorse Group detailed how it is making progress developing a truck-mounted drone system that will comply with Federal Aviation Administration regulations.
Paccar, the owner of the Peterbilt and Kenworth truck brands, said its North American revenues fell in the third quarter because of weak demand for big rigs. Its European sales rose.
Jerry Moyes, the feisty entrepreneur who built Swift Transportation from one truck into a $4-billion business, is set to retire after years of controversy.
Richard Stocking takes helm of Swift Transportation after founder Jerry Moyes said he will retire later this year.
Navistar International Corp.'s third quarter loss rose 21 percent to $34 million compared to a year ago as a soft freight market reduced demand for its semi-trucks.
Former General Motors executive Troy Clarke credited with returning truck manufacturer Navistar to profitability.
Otto, the self-driving truck company founded by Google execs, wants to expand its fleet of test vehicles before moving on to private trucks.