A popular manufacturing index is signalling a rough ride for trucking after the holiday season.
The United Auto Workers union strike against General Motors (GM) has forced GM to stop production at more factories across Mexico. General Motors announced it was shutting down its auto factory complex in the Mexican city of Silao as of October 1, due to the lack of needed components from plants located in the United […]
Officials with the McAllen Economic Development Corporation (MEDC) will soon take a second tour of China to look for new partnership opportunities in that country. Keith Patridge, president and chief executive officer of the MEDC, said they hope to a land Chinese manufacturing plant during the upcoming trip. Patridge and other officials will again be […]
Navistar is building a new Industry 4.0-ready plant near San Antonio, Texas that will help raise earnings before interest, taxes, depreciation and amortization.
Toyota recently announced a $391 million investment at its Tacoma and Tundra assembly plant in San Antonio. In addition, Aisin AW, a Japanese auto supplier to Toyota in San Antonio, also announced it will be building a $400 million facility in nearby Cibolo, Texas, adding 900 jobs. “We’ve been in the United States for more […]
Navistar plans a new manufacturing plant near San Antonio, Texas and aggressive financial goals into the middle of the next decade.
Understanding all of your options when it comes to improving driver comfort
After a disappointing first half of 2019, the freight market finally appears to be heading another direction.
Hino Trucks is already increasing its investment in a new plant in West Virginia, where it will build Class 7 and 8 trucks in addition to medium-duty models.
Retail remains a rare source of strength in the economy while manufacturing struggles
Meritor, Inc. is growing its manufacturing footprint in India by 25 percent with a $36.5 million axle assembly facility at Automotive Axles, its joint venture with Kalyani Group in Mysore, India. Meritor also is opening a research and development center in Mysore.
Old Dominion reported continued LTL volume weakness in July. Near-term volume relief may be hard to come by as domestic and global macroeconomic trends remain tepid.
ISM data in both the service sector and manufacturing sector suggest the economy is slowing and recent tariffs could make things worse
Donald Broughton writes a thought-provoking commentary about how technology has killed inflation.
Canadian rail and trucking sectors expand as nation’s GDP increases by 0.2 percent, capping its best three-month period in two years.
U.S. shale oil production might reach tipping point; U.K. auto industry investment is on the decline; Amazon is looking to expand to food services in India.
Indiana-based Cummins Inc. (NYSE: CMI) reported higher revenue and net income, but the power technology company’s second quarter earnings came in below analysts expectations. Cummins posted second quarter earnings of $4.27 per share, up from $3.32 in the second quarter of 2018, but below the $4.41 average estimates from analysts. The company’s stock is taking […]
BRP Inc. recently expanded the capacity at two of its production facilities in Mexico, where it builds its powersport and personal watercraft vehicles. The Quebec-based company’s increased production comes at a time when the market for recreational powersport and water-sport vehicles is estimated to grow from $11 billion in 2018 to $14.5 billion by 2025, […]
Mexican factories exported a record-breaking 1.74 million vehicles worldwide during the first six months of 2019. The majority of those vehicles – 1.37 million – were shipped north across the border to the United States, according to data recently released by Mexico’s Asociacion Mexicana de la Industria Automotriz (AMIA). “The United States remains, without a […]
RF Controls has a passive RFID tag solution that provides precise location tracking of tagged items over long distances that also works without batteries.
It may have gotten lost in the United States’ trade war with China and immigration battle with Mexico, but President Donald Trump’s steep tariffs on all imported steel and aluminum were lifted on May 17. With the change in the Trump Administration’s policy, Canada and Mexico received a reprieve on steel and aluminum coming from […]
The economic roundup summarizes recent developments in the macroeconomy as they relate to freight demand, and highlights key trends worth watching in the upcoming month.
Volvo Trucks has announced a $400M investment and expansion of the plant that will add 777 jobs over the next six years.
The numbers of robots in use around the world is forecast to reach 20 million by 2030…. automation is also forecast to displace tens of millions of people from their jobs.
Retail and industrial activity improved, providing some stability for freight Economic data from the goods side of the economy showed some signs of life in May, as growth in retail sales and industrial production exceeded expectations during the month. This is an encouraging sign that activity may be stabilizing in the second quarter, though details […]
The monthly economic roundup summarizes key results in the economy over the past month and highlights trends worth watching
Tesla (NASDAQ: TSLA) is simply not investing enough cash back into its business in the form of capital expenditures to construct the production lines and build out the service infrastructure necessary for the large-scale manufacturing of commercial vehicles. The Palo Alto-based automaker has a history of over-promising and under-delivering on new vehicle deliveries, production schedules, […]
Fiat Chrysler submitted a proposal for a merger with French automaker Renault to create a preeminent global automotive group.
Manufacturers’ new orders for durable goods declined in April, and details suggest more trouble ahead for freight demand in the economy
Shipping container maker Singamas Container Holdings (HKEX:716) has announced that it will sell five of its subsidiary companies to Cosco Shipping Financial Holdings for RMB 3.8 billion. That’s about US$565 million.
Chillicothe has a long history in the state, but in the past 45 years, it is the local Kenworth factory that has become an identifying centerpiece of this central Ohio town.
Kenworth will increase the size its Chillicothe, Ohio, manufacturing plant by nearly 25 percent once a new paint facility comes online in early 2021, the company said at a groundbreaking for the $140-million, 120,000-square-foot building.
Waymo is setting up the world’s first production facility in Detroit that manufactures Level 4 autonomous vehicles.
Industrial output in the economy continued to struggle in March, as a stalled manufacturing sector continues to weigh on freight demand in the economy.
Fast Radius, a leading manufacturing technology company, has announced its Series B financing round of $48 million led by UPS, with strong insider participation from Drive Capital.
The monthly economic roundup summarizes key developments in the macroeconomy over the past month and highlights trends worth watching headed into April.
Volkswagen partners with Amazon Web Services, to streamline data coming from its different manufacturing and logistics processes, and create actionable information to improve production flexibility and increase vehicle quality.
Manufacturing numbers are not looking as robust after a booming early 2018. The flatbed freight market may be in line for a big correction as well.
Industrial production rose by a paltry 0.1% in February, restrained by a second consecutive decline in manufacturing activity
Exports improve sequentially, raw materials price ease again.
A summary of the key developments in the U.S. economy over the past month and highlighted trends to watch in March.
The Nikola Motor Company announced that Mark Russell has joined its executive management team as president. According to Nikola’s press release, Russell will manage the company’s production of new zero-emission vehicles.
Redwood Logistics spoke on the importance of technology in the retail supply chain at the 2019 LINK supply chain conference in Orlando.
Delphi Technologies (NYSE: DLPH) beat Wall Street’s consensus expectations of its fourth quarter non-GAAP earnings per share (EPS) of $0.88 by 20 percent according to Seeking Alpha. However, quarterly EPS decreased 14.5 percent year-over-year (Y/Y) from $1.24 to $1.06.
Shares of Cummins Inc. (NYSE: CMI) decreased by $0.47 on February 6 after the company missed the consensus expectations of fourth quarter earnings per share (EPS) of $3.81 by 8.6 percent, according to Seeking Alpha. Non-GAAP EPS was only $3.48.
Foxconn Technology Group (OTC US: FXCNY) created more uncertainty for its suppliers on Friday when it announced that it’s recommitting to building a liquid crystal display monitor (LCD) factory in Mount Pleasant, Wisconsin according to the Wall Street Journal.
The monthly economic roundup is a summary of recent event in the economy and a guide for key trends worth monitoring over the next month.
Desktop Metal, an additive manufacturing [3D printing] firm which specializes in metal printing, announced last week that it raised $160 million from a financing round led by Koch Disruptive Technologies (KDT), a subsidiary of Koch Industries.
Apple’s manufacturing partner Foxconn Technology Group, which assembles Apple’s iPhone product in China, announced on Saturday that it has raised over $213 million for what it described as a “mega-development” in India.
Despite the temporary end to the government shutdown announced late Friday, the U.S. Census Bureau failed today to release its report on manufacturers’ durable goods shipments, inventories, and orders for the month of December 2018.
Lattice materials can be used to manufacture stronger yet lighter objects through the technique of additive manufacturing. A good place to start would be the automobile industry, which could do well with reducing its dead weight for improved fuel efficiency.
Industrial production rose at a solid pace to round out 2018, helped by a jump in manufacturing activity during the month. The gain in output in December rounded out the strongest year for the industrial sector since 2010, and eased fears after a string of negative releases from manufacturing.
Airbus (AIR: EURONEXT) broke ground for its new A220 manufacturing facility in Mobile, Alabama on Wednesday. The newest airliner in Airbus’ product line, the A220 is designed to revolutionize the market for 100-150 seat aircraft.
Manufacturing supply chains must deal with counterfeit parts. One company is hoping that its blockchain-based tracking solution can help solve that while also providing transparency in the freight supply chain.
Volkswagen announced today that it would expand its Chattanooga assembly plant to build the next generation of electric vehicles.
January’s World Economic Forum (WEF) white paper identified 16 factories that are leading the world economy in manufacturing technology. The United States has only one of these “lighthouse” facilities – Fast Radius’s Chicago factory, located in the city’s West Loop.
Commentary from ISM’s monthly survey makes it clear that manufacturers are blaming tariffs. Job openings fell to 6.9 million in November, down from 7.1 million in the previous month.
Walmart will deploy autonomous vehicles to deliver groceries for customers, according to Tom Ward, senior vice president of digital operations for the retail giant. Autonomous vehicle company Udelv is providing the technology to make the pilot program possible.
It’s that time of year; time to look forward and plan for the year. In order to have a better idea of where the economy and industry are headed, we always like to look back and review from where we came and what happened.
The first week of 2019 saw three of America’s largest companies announce revenue expectation reductions, signaling a potential cooling of the U.S. shipping market.
Among news of poor performance in the Chinese economy, one of the most distressing signals for foreign retailers and manufacturers is Apple’s announcement on Wednesday that the company had reduced revenue expectations due to poor iPhone sales in China.
Manufacturing leads first-party logistics growth because of the sector’s long-established supply chains. Retail is the next-largest contributor to first-party logistics growth through the impact of e-commerce.
Manufacturers’ new orders for durable goods posted a modest rebound in November, driven by a surge in aircraft orders. Orders excluding transportation fell for the second time in three months. This is the latest in a string of disappointing releases from manufacturing, raising some questions about the health of one of the key drivers of freight demand headed into next year.
Recent results show that retail activity continued to expand in November, in a sign that one of the key components of freight demand remains healthy at the end of the year. Results from the manufacturing sector were far less encouraging however, as activity stalled during the month.
Universal and other carriers with exposure to automotive verticals face impact of GM plant shutdowns.
Industrial output rose for the fifth consecutive month in October, with strength in the manufacturing sector outweighing softening activity in mining production. Hurricane season again disrupted activity, with Hurricane Michael restraining total production slightly during the month.
A monthly survey of all the important economic developments from the past month, and a look at some of the key trends to watch throughout the month of November.
35 companies are being spotlighted in Venture Atlanta 2018, double the number of last year. These companies are already successful and making strides in a variety of venture and tech-related firms. Here’s a brief look at 10 of these companies, each of whom had a mere 5 minutes to pitch.
Industrial output continued to push ahead in September, signaling that one of the key drivers of freight demand remained solid at the end of the 3rd quarter. Production was restrained slightly by the impact from Hurricane Florence, but not enough to prevent growth in the sector from reaching a near 8-year high.
Survey data from the manufacturing and service sectors continue to point towards robust growth in the 3rd quarter. Manufacturing activity slipped slightly from multi year highs during the month, but service activity has pushed to record highs despite shortages in labor and trucking capacity.
A roundup of economic data releases and events over the past month, and view of trends worth watching in October. Freight demand conditions remained generally solid during the month, though international trade and housing remain trouble areas. Supply within trucking looks to be expanding, and hires in the industry continued to climb
Factory orders for durable goods rose in August, driven by a large increase in commercial aircraft orders. Orders historically are a leading indicator of future shipments, and August’s results suggest that freight demand on the durable side of the economy should remain solid.
A pair of releases this morning show that retail spending and industrial output expanded in August, signaling that some key components of freight demand continue to grow at a healthy pace in the 3rd quarter.
“It’s not just about cars and satellites and cereal,” says CEO Lou Rassey. “It’s about feeding and empowering the world with the things we make. That’s the heart of Fast Radius.”
Survey data from the manufacturing sector improved significantly in August, in a sign that activity continues at a strong pace after robust growth in the 2nd quarter.
Regional surveys from Federal Reserve districts were mixed during the month, as softening conditions from the Philadelphia and Kansas City districts were offset by improvements in the Richmond and New York regions. Commentary from the regional surveys suggests tariffs, labor shortages, and the inability to find trucking capacity are curbing economic activity across the board, though growth remains generally positive.
In partnership with Reliance Partners …A survey of nearly 16,000 warehouse workers uncovers three key factors to attracting and retaining supply chain talent in anticipation of holiday peak season and single-digit unemployment rate.
A pair of releases this morning show that retail spending and manufacturing output continued to advance in July, signaling that some key components of freight demand remain on solid footing in the 3rd quarter.
Freight demand remained strong through the end of the 2nd quarter, but growth is likely to normalize through the 3rd quarter as some of the temporary boosts to economic activity fade.
Flatbed demand, railroads’ chemical carload volumes, and the price of WTI crude are all bullish signals for an historically hot freight environment to continue through the rest of the year.
Freight conditions generally held solid during the month despite some softening in the manufacturing sector. With economic fundamentals largely in place, the focus has shifted to trade policy, where trade war escalations threaten domestic activity.
Navistar has rolled out a series of new products in the last few years and the strong overall economy is helping the once-beleaguered truck maker rebound with another strong performance in its second-quarter earnings, beating Wall Street estimates.
A monthly survey of all the important economic developments from the past month, and a look at some of the key trends to watch throughout the month of June.
Results from the Federal Reserve’s Beige Book suggest that manufacturers have shrugged off tariff concerns and are enjoying stronger growth in the 2nd quarter. Labor shortages remain an issue however, broadening beyond the trucking industry.
The U.S. government is looking to levy 25% added tariffs on auto exports, which could set off a spate of trade wars with countries like Germany, Japan, and South Korea.
Output from the nation’s industrial sector climbed for the third consecutive month, as broad gains across industries helped compensate for a lull in auto production. This serves as yet another sign that freight demand will remain solid in the 2nd quarter.
Trailers orders dipped month-over-month in April, but for the 17th consecutive month they posted year-over-year gains.
Manufacturing growth is likely to remain solid in the 2nd quarter, as orders for new production remained healthy through March. This should help keep freight demand strong, even if things have moderated from the torrid pace seen in previous months.
Data from the Institute of Supply Management shows that manufacturing activity lost some momentum in April, as the current capacity crunch and recent tariffs have impacted production flows
Durable goods orders rose 2.6% in March, driven by a 2nd consecutive surge in commercial aircraft orders. Core orders remained essentially unchanged during the month in a sign that freight demand will continue to normalize.
Positive news from both manufacturing and construction sectors, as gain in each help drive up freight demand in the economy
Job growth has improved since the start of the year in the trucking industry. While this is strong step in address the driver shortage, the industry will soon find itself having to compete long-term with other industries desperately searching for skilled labor.
Data from the ISM index showed that manufacturing activity pulled back slightly in March, and responses from the survey highlight the impact that trucking shortages and tariffs are having on performance.
A monthly synopsis of events and results in the macroeconomy from the past month and a discussion of implications for freight markets going forward. Results released in March were generally more favorable than the previous month and suggests that freight demand should remain strong going forward.
Regional manufacturing data from the Dallas and Richmond Fed suggests that manufacturing activity has cooled in March as the impact of tariffs has affected output
Manufacturing industrial production surged in February, but housing starts slipped in a mixed day for freight demand
The merged companies could mean the transformation of the way we consume soda, as well as the consolidation of shipping and shelf space. The product can also bypass retail stores entirely and ship directly to consumers.
Data from the Institute of Supply Management shows that manufacturing activity remains robust in the economy, which has historically meant strong demand for trucking
The Federal Reserve reported that total industrial production declined 0.1% in January from December’s levels, weighed down by a 1% decline in mining output in the economy.
