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Category: Equipment

Meritor Provides COVID-19 Related Operational and Financial Update

Meritor Provides COVID-19 Related Operational and Financial Update

| March 26, 2020

Meritor, Inc. has provided an update on its global operations in response to the continued spread and impact of COVID-19 “The COVID-19 pandemic has resulted in unprecedented uncertainty in the global commercial vehicle industry and economies around the world,” said Jay Craig, CEO and president of Meritor. “In light of rapidly evolving market conditions, and in […]

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Dana Incorporated Provides Statement on Current Market Conditions

Dana Incorporated Provides Statement on Current Market Conditions

| March 24, 2020

We believe Dana has ample liquidity to manage significantly lower production volumes Dana Incorporated announced that it is taking the necessary actions to adapt to rapidly changing demand levels as certain of its key customers reduce their production levels in response to the ongoing COVID-19 control efforts. The company’s actions include additional employee safety measures, adjusting […]

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Ideanomics’ MEG Announces Strategic Agreement with EV Heavy Truck and Bus Manufacturer

Ideanomics’ MEG Announces Strategic Agreement with EV Heavy Truck and Bus Manufacturer

| March 23, 2020

Deal will facilitate electric heavy-duty truck sales in China, starting with Inner Mongolia mines and the port of Qingdao Ideanomics, has a strategic framework agreement with leading EV heavy truck and bus manufacturer, BeiBen Heavy Truck Co. Ltd (“BeiBen”). The framework agreement is designed to establish a long-term strategic partnership that will create a strategic platform […]

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Navistar Announces Impacts From COVID-19 Pandemic

Navistar Announces Impacts From COVID-19 Pandemic

| March 23, 2020

Suspends production at its truck assembly plant in Springfield, Ohio Navistar International Corporation provided a business update in light of the outbreak of the coronavirus disease (COVID-19). On March 23, 2020, the company is suspending production at its truck assembly plant in Springfield, Ohio, for two weeks in response to disruptions to Navistar’s supply chain that are […]

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Cooper Tire Announces Temporary Shutdown of Manufacturing Facilities in the Americas

Cooper Tire Announces Temporary Shutdown of Manufacturing Facilities in the Americas

| March 23, 2020

Cooper believes it currently has sufficient supply of product, and will continue to operate distribution centers until further notice to meet customer needs Cooper Tire & Rubber Company it will temporarily shut down its tire manufacturing facilities in the United States and Mexico to protect the health and safety of employees and respond to market […]

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U.S. Trailer Net Orders Dropped 15% Sequentially in February, -45% Y/Y

U.S. Trailer Net Orders Dropped 15% Sequentially in February, -45% Y/Y

| March 19, 2020

As dire as those figures are, they were highly pre-COVID-19 driven ACT Research reports that February net US trailer orders of 12.7k units were down 15% month-over-month and 45% below the previous year. Before accounting for cancellations, new orders of 14.8k were down 12% versus January, according to this month’s issue of ACT Research’s State […]

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