Ford Motor Company (NYSE: F), the industry’s truck leader, will add 350 new jobs and invest $80 million in its Kentucky Truck Plant to meet growing demand for Ford F-Series Super Duty trucks. The $80 million will pay for facility upgrades, retooling and increased capacity to meet market demand. The investment and new employment opportunities […]
PACCAR (Nasdaq:PCAR) reported record annual revenues of $17.12 billion and net income of $1.17 billion for 2013, achieving the “third best annual net profit in the company’s history and the 75th consecutive year of net income,” said Mark Pigott, chairman and chief executive officer. “PACCAR’s financial results reflect the company’s premium-quality products and services, improved […]
Increased supplies of off-lease vehicles coupled with rising inventories and new vehicle production could hurt the wholesale market and auto asset backed securities (ABS) performance metrics over the long term, Fitch Ratings says. If these trends continue, Fitch expects “decreasing auto loan recoveries and lease residual realizations to contribute to increased loss levels on auto […]
Clean Energy Fuels Corp. (Nasdaq: CLNE) has announced that Stephen Scully has been appointed to its board of directors. The election of Mr. Scully as an independent member on January 30 is effective immediately and expands the board to nine members. “We welcome Steve to our board and look forward to tapping into his extensive […]
Officials from the American Trucking Associations (ATA said while they appreciate the release of the Federal Motor Carrier Safety Administration’s study commenting on the efficacy of recent changes to the restart provisions of the hours-of-service rules, “what the report doesn’t say may be as significant as what it does.” “We appreciate FMCSA releasing the results […]
The U.S. Department of Transportation’s Federal Motor Carrier Safety Administration (FMCSA has released findings from a real world, third-party study providing further scientific evidence that the restart provision in the current HOS (hours-of-service) rule for truck drivers is more effective at combatting fatigue than the prior version. “Safety is our top priority, and this new […]
