Equipment

2023 was a generally downtrodden year for 3PLs, with plummeting transportation rates and shippers focused on right-sizing inventories and reducing logistics costs.

A freight market recession, compressed broker margins and major acquisitions in 2023 have markedly altered the landscape of North America’s largest third-party logistics providers.

Stubbornly weak freight market conditions have placed financial strain on 3PLs in recent years with an oversupply of truck capacity driving down rates and squeezing brokers’ margins.

Volvo Group will build a heavy-duty truck manufacturing plant in Mexico to complement the Swedish original equipment manufacturer’s production in the U.S.

Ford slashed prices of its electric F-150 Lightning pickup truck by as much as 7.5% as the automaker prepares to resume deliveries this month following a halt this year over a quality issue.

The spot market is struggling to rebalance as the rate of carriers exiting has slowed despite sluggish demand.

U.S. Class 8 retail sales continued to decline year-over-year in March, according to data from Wards Intelligence.

GOTHENBURG, Sweden — Executives from Volvo Trucks and Volvo Cars lifted the veil on the new World of Volvo city center, offering a glimpse of the company's vision for the future.

Rivian Automotive was back in Normal, Ill., on April 6 with its second-generation EVs and the promise of more activity at a now-bustling auto plant.

Daimler Truck North America sold 46,220 trucks and buses in the first three months of 2024, a 5% decrease compared with the first quarter of 2023’s total of 48,891.