Business

CLEVELAND — Revolution Trucking has announced plans to increase the fleet to 50 trucks this year. Headquartered outside of Cleveland, Revolution operates its own fleet of trucks and offers brokered solutions throughout the US, Canada and Mexico. Having serviced more than 80% of the Fortune 500 corporations, Revolution is experienced at providing clients with freight solutions. The company has grown rapidly, and they attribute their success to providing quality logistics services while upholding the highest of values and focusing on building relationships. The new trucks will help them continue this growth and serve their customers even better. “Revolution Trucking has been in business for three years and during that time we have never wavered from our commitment to our customers and carriers,” James Adams, chairman and CEO of Revolution, said. “We continue to add trucks and equipment to our fleet while maintaining the same high standards of service that have made us successful. Providing the best value is one of our top priorities. What does this mean? Our set of standards is carefully maintained to ensure our quality of service is never in question. Revolution has a 99.8% on time percentage, nearly unheard of in the industry, particularly with the complexity in current supply chains. For clients this means on time delivery, less charge backs, fewer line down production situations that result from long waits on raw materials, and lower unintended operation costs like claims and fines they may face while using larger third-party logistics companies.”  

ST. LOUIS — HDA Truck Pride announced Friday “The Merger in New York” a merging of A & A Brake Service and All Systems Brake. The companies will combine under new leadership as a new entity called AA Systems Truck and Bus LLC. AA Systems Truck and Bus will be led by Gerald Abatemarco, Richie Caiazza and John Gallina. As the next generation of their respective family businesses, and having grown up in the industry, this new leadership will deliver value to their customers for years to come. The combination of AA Systems Truck and Bus will allow for focused attention on current customers, expanding the customer base and enhanced operations for continued success into the future. “Our entire focus is customer service,” Caiazza You can count on AA Systems Truck and Bus. We also have a million ideas for how to change things up to drive efficiencies. Technology is one of the things we’ll use in our favor. We’re ready to take on New York City and Long Island as AA Systems Truck and Bus.”

LOWELL, Ark. – J.B. Hunt Transport Services Inc. announced Monday the launch of CLEAN Transport™, a new program that will allow customers to acquire carbon offset credits equivalent to the emissions created by their shipments. “J.B. Hunt is committed to leading the industry toward a low-carbon future,” Craig Harper, chief sustainability officer and executive vice president at J.B. Hunt, said. “Many of our customers are working towards short-and-long-term sustainability goals, and CLEAN Transport will serve as a great extension of the efforts they’re already taking to reduce the carbon footprint of their supply chain.” J.B. Hunt says that CLEAN Transport will help customers offset carbon emissions based on lane-specific activity each quarter. “Working with credible third-party organizations, J.B. Hunt will provide program participants with data showing the amount of carbon offsets needed to achieve a carbon neutral shipment and obtain carbon credits supporting the project selected by the customer,” a company news release stated. “Carbon offset projects include reforestation, forest management, regenerative agriculture and clean power generation.” CLEAN Transport is currently available for J.B. Hunt Intermodal customers and will expand to additional service areas as part of the program’s growth. “Customers can select which lanes are part of the program, or J.B. Hunt can provide recommendations based on a carbon footprint evaluation of lane activity,” the news release stated. “Carbon offset projects available through CLEAN Transport are verified and registered with recognized organizations such as the American Carbon Registry, Verra, Gold Standard and Climate Action Reserve to confirm that the emission reduction or removal was successful and the intended environmental benefits were executed.” In addition to using energy efficient equipment and alternative fuels, J.B. Hunt officials said the company avoided an estimated 4.3 million empty miles in 2020 by using its technology platform J.B. Hunt 360°® to secure backhaul freight. J.B. Hunt recently announced it plans to expand its intermodal fleet to as many as 150,000 containers in the next three to five years as part of a joint initiative with BNSF Railway Company.

EL SEGUNDO, Calif. — Corra Group is assisting trucking and transportation companies with their U.S. Department of Transportation (DOT) compliance needs by offering both a la carte and batch files for the company’s annual motor vehicle driving records requirements. The El Segundo, California, headquartered background checking service can deliver driving records for every state in the union, plus Canada and Puerto Rico. “It is essential that trucking and transportation companies meet all Department of Transportation compliance mandates,” Corra Group Co-Founder Nick Gustavson said. “This standard is vital at a time when there is a driving shortage and trucking groups are struggling to find new drivers and to keep their current drivers compliant and on the road. Gustavson said Corra Group offers batch file uploads of minimum 50 drivers. “The driving records return in less than a 48-hour turnaround,” he said. “Employers also have the option of ordering MVRS individually, at which point for most states they return in about 60 seconds.” Gustavson underlined that Corra Group offers driver PSP driver safety reports as well as CDLIS, criminal records searches and DOT employment verification. He noted that clients can request custom trucking packages in any way they see fit. He added that some of the services are necessary for DOT compliance, while some are elective background checks. “Clients simply upload to us a spreadsheet containing the required information in order to conduct batch file motor vehicle driving records,” Gustavson said. “Clients will provide release forms for each driver Corra Group is checking, and that’s about it. In 24 to 48 hours, the driving records are returned to clients. For those companies with less than fifty drivers, they are free to order each record individually. It’s a simple process and turnaround is very fast in most states.”  

PLOVER, Wis. — The Women In Trucking Association (WIT) recently announced its fifth annual list of Top Women to Watch in Transportation. These women were selected because their significant career accomplishments in the past 12 to 18 months, as well as their efforts to promote gender diversity within the industry. “This year, we were impressed with the number of nominations we received for highly-qualified and outstanding women who have excelled in a male-dominant industry,” said Brian Everett, group editorial director and publisher of WIT’s Redefining the Road magazine. “We are pleased to have the opportunity to recognize and highlight the achievements of 84 incredibly talented and valuable women.” Those recognized on the 2022 Top Women to Watch in Transportation list work for a broad range of company types, including motor carriers, third-party logistics companies, equipment manufacturers, retailer truck dealers, professional services companies, technology innovators and private fleets. Their job functions include corporate management (32%), operations/safety (27%), human resources/talent management (19%), sales/marketing (11%) and engineering/product development (6%). Another 5% are professional drivers. Individuals recognized as 2022 “Top Women to Watch in Transportation” are, in alphabetical order: Jennifer Albers, engineering manager, Yellow Peggy Arnold, road driver, Yellow Georgy Barlow, director of business development strategic accounts, Yellow Sanya Beard, owner/principal, Melrose Trucking and Transportation Jill Bezner-Ray, program manager, Peterbilt Motors Lisa Black, operations compliance manager, Aurora Elaine Bodnar, professional driver, CFI Kasey Brough, safety advisor, NAPA Transportation Inc. Ingrid Brown, CEO/independent owner-operator/FreightWaves HOST/FMCSA Voice of Safety, Rollin’ B LLC Naomi Brutscher, CDL examiner, Prime Inc. Navolia Bryant, chief people officer, Premier Trailer Leasing Susan Cagley, transportation manager of Toyota operations, Carter Logistics Inc. Cynthia Chiari, operating center manager, May Trucking Co. Sadie Church, director of recruiting and marketing, Artur Express Inc. Maria Coley, human resources director, CFI Traci Crane, Sr Manager Fleet Maintenance, CFI Paige Creo, director of marketing, Maven Machines Bronagh Curley, corporate services manager, New West Truck Centres (Freightliner Inc.) Melissa Davis, regional director of sales, Old Dominion Freight Line Lina DeJongh, terminal manager, Trimac Transportation Hayley Dobson, group vice president, Trinity Logistics Alexa Ekberg, product manager, Maven Machines Betty Elrod, chief marketing officer, Inflection Poynt Julia Epperly, account staff manager, Venture Connect Sondra Freeman, North America credit and collections manager, Trimac Transportation Molly Gibson, senior digital media strategist, CDLLife Nicole Glenn, founder and CEO, Candor Expedite Lindsay Goodman, vice president of national accounts, J.B. Hunt Kami Green, manager of payroll and accounts payable, John Christner Trucking Elizabeth Halko, vice president of operations, Proficient Auto Transport Inc. Angela Hargesheimer, group director of national accounts maintenance operations, Ryder System Inc. Amber Henson, account manager-operations, CFI Jackie Jacobs, senior fleet transaction analyst and project manager, Fleet Advantage Joëlle Jantzen, manager of human resources compliance, Yellow Tamar Jimenez, service center manager, XPO Logistics Inc. Katerina Jones, vice president of marketing and business development, Fleet Advantage Foster Kaman, manager of sales planning and support, Yellow Jennifer Karpus-Romain, executive director, Transportation Marketing & Sales Association Samka Keranovic, vice president and COO, US Truck Driver Training School Frederique Klein, director of finance, Navistar Alyssa Lamport, operations manager, Yellow Nona Larson, director of customer service, PACCAR Parts Rachel Lovell, vice president of people operations, Ascend Caroline Lyle, president, Virago Marketing Kelsey Mahay, Dealer Communications Manager, Navistar Michelle Mahoney, assistant director of operations, Carter Express Inc. Ann Marie Manos, associate director of service engineering and serviceability, Navistar Yvonne Mauriello, senior director of rental, Ryder System Ashley McClain, autonomous truck operations specialist, Aurora Jennifer Meyer, group logistics manager, Ryder Transportation Solutions LLC Britta Miano, director of customer excellence, Red Classic Veronica Millares, group director-sales strategy and operations, Ryder System Beth Paholke, fleet leader, Veriha Trucking Inc. Emily Phillips, vice president of advanced solutions, XPO Logistics Inc. Jennifer Piatt, elite support and diversity manager, Stoops Freightliner Ginny Polach, director of human resources, Sunset Transportation Kristi Randall, vice president, Artur Express Melissia Reeves, managing director of field operations, FedEx Freight Lorraine Reynoso, customer care and servicing manager, Crossroads Equipment Lease & Finance Becca Ridge, vice president of client services, CDLLife Su Schmerheim, independent owner-operator, Class Act Horse Transport LLC Michelle Siebert, director of finance, Artur Express Inc. Heather Smith, head of operations management, Aurora Robyn Smith, operating center manager, May Trucking Co. Carrie Snider, controller, Certified Express Jennifer Snyder, co-founder and general counsel, Fluid Truck Jin Stedge, co-founder and CEO, TruNorth Transportation Susan Stencel, director of customer logistics, Ryder Supply Chain Solutions Kim Stewart, regional vice president, Hogan Transports Lisa Strader, vice president of expedited operations, Covenant Roberta Tamburrino, president-freight audit and payment, AFS Logistics Angela Tracy, director of enterprise sales, Penske Truck Leasing Kendra Tucker, COO, Truckstop.com Amisha Vadalia, senior director of operations, Plus Raquel Valle, vice president of people and culture, Venture Logistics Ginnapher Velez, senior vice president of asset management, Clean Harbors Kathryn Venis, group director of customer logistics, Ryder System LouAnn Wagner, CEO, Texas Auto Carriers Inc. Tracy Walker, director of safety, Yellow Amy Wettstein, regional vice president of van truckload, Schneider Michelle Wiggins, director of sales, ReedTMS Logistics Pamela Wilday, independent contractor/driver, Prime Inc. Shelly Willingham, manager of engineering, Yellow Stacey Woods, senior vice president of human resources operations, XPO Logistics Inc. “This exceptional group of women have persevered through the uncertain times brought on by the COVID-19 pandemic, exhibiting the true example of a leader,” said Ellen Voie, president and CEO of WIT. “The resilience displayed by these women supports and furthers the mission of the Women In Trucking Association to encourage the employment of women in the trucking industry, promote their accomplishments and minimize obstacles faced by women working in the industry.”

In honor of Women’s History Month in March, Trucking Moves America Forward (TMAF) recognized several women who are forging new roads in the trucking industry. Amber Edmondson, president, CEO and co-owner of Trailiner Corp., is one of those women. In 1999, Edmondson’s grandfather, who founded the Springfield, Missouri-based refrigerated truckload carrier, encouraged her to join the family business while she was completing a college degree in business. Following graduation, she was asked to remain with the company and mentor with one of the executives. “Now it’s 23 years later and I’m still here,” she said, noting that she has learned all aspects of the business since joining the team. In 2018, she and three cousins joined together to buy the company. As president and CEO of Trailiner, Edmondson focuses on the business strategy, working to position the company for future opportunities and growth. In addition, she ensures the business runs smoothly and that her team has the support it needs. “I work to empower my team to do the things they need to do,” she said. Life in the trucking industry is ever-changing, and that’s just fine with Edmondson. “What I love most about trucking is that no day is the same. There’s always something that keeps it interesting,” she said. “You also get to interact with a broad, diverse group of people.” She says some of the most memorable moments during her career include being affiliated with American Trucking Associations and the Truckload Carriers Association. “I have gotten to meet people across the industry, and it’s interesting to hear other people’s stories — especially those with similar stories to mine,” she said. “I like hearing the stories of other people who are working in a family business — those who are working to keep the family atmosphere while keeping the business running from generation to generation.” Edmondson encourages other women who are considering a career in trucking to join the industry. “There are an unlimited number of opportunities for women in trucking,” she said. “Women have the freedom of being out on the open road as a driver or working their way up in a company. There are a lot of women in executive leadership positions in trucking now,” she continued. “The opportunities are out there if you’re willing to put in the work and pursue those opportunities.”

In honor of Women’s History Month in March, Trucking Moves America Forward (TMAF) recognized several women who are forging new roads in the trucking industry. Erica Denney, director of sales for Denney Transport, is one of those women. Even though her family owned a trucking company, working in the industry was not something Denney planned for. In fact, the former college volleyball player says she never really looked beyond collegiate athletics while at Penn State, other than thinking she might “go into the beef industry.” “But I did love my transportation class the most, so maybe that was a hint (of things) to come,” she said. After college, Denney took a job in insurance. After about a year, her father called and asked her to help out with the family business, Denney Transport. “I never looked back, and have been at Denney for six years,” she said, adding that her job involves selling niche services for the company’s truckload and less-than-truckload (LTL) services. When asked what she loves most about trucking, Denney is quick respond: “The people, and what we are all trying to do.” The trucking industry plays a pivotal role in the supply chain, delivering the necessities of everyday life as well as the luxuries. “When I go to the grocery store, I think, ‘We brought that.’ Your favorite dessert at Starbucks? We brought that. Your designer bag, the medicine you need. If we stopped, the country would stop.” Denney encourages young people to enter the industry. She served as a coach for the American Trucking Associations’ (ATA) Trucking U, where she spoke to college students studying business or transportation. In addition, she was part of the LEAD ATA Class of 2019, where she shared business practices with peers. With the onset of the COVID-19 pandemic, Denny said she quickly discovered a need for more education about the trucking industry and how critical it is to the supply chain. “Trucking is here to stay. We are flexible, and we work on the fly,” she said. Denney also expressed concern about the industry’s worker shortage, noting that the average age of drivers is now close to retirement age. Her advice to young people who are interested in a career in trucking? “Trucking can open so many doors, and you can feel good about what you do. It’s such a large industry, but it has a close-knit, family feel. We back each other,” she said. “What other industry does this? It’s so cool to think that at the end of the day, we aim to accomplish the same thing.”

COLUMBUS, Ind. – According to the latest release of the State of the Industry: U.S. Classes 3-8 Used Trucks, published by ACT Research, used Class 8 retail volumes (same dealer sales) were 16% higher month-over-month. Longer term, volumes were down 17% y/y. Average prices were 7% higher compared to January, and 83% more expensive than in February of 2021. Average miles and age were flat sequentially, with miles up 3% y/y and age 5% higher than last February. The report from ACT provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo). This report is utilized by those throughout the industry, including commercial vehicle dealers, to gain a better understanding of the used truck market, especially as it relates to changes in near-term performance. “Used Class 8 same dealer retail sales volumes got an expected breath of life in February, jumping 16% sequentially,” Steve Tam, vice president at ACT Research, said. “Typical seasonality called for a 13% increase, so elevated new truck activity seems to have provided a little traction in the secondary market, but in all likelihood, the bump is not sustainable.” Tam added, “New truck sales appear to have lagged the spike in December production and the accompanying echo in January. That could translate to another month or two of better-than-expected used truck sales.” Tam said that freight growth, combined with the continued flow of new entrants into trucking, has effectively defined the start of falling freight rates. “Through mid-March, rising fuel prices have masked a rapid month-over-month decline in spot freight rates,” Tams said. “We contend that this signals an impending slowdown in demand for used trucks, with prices to follow accordingly, and some dealers already reporting prices softening around the edges.”

CHICAGO — High Definition Vehicle Insurance (HDVI) announced Tuesday its expansion into Wisconsin. Small to midsize trucking fleets in the state can now use HDVI’s innovative telematics products, data and dynamically priced insurance to protect drivers and equipment, improve operations and lower insurance costs. Over 20,800 trucking companies operate in Wisconsin, primarily small, locally owned businesses, according to statistics compiled by the American Trucking Research Institute (ATRI), showing how trucking drives the state’s economy. ATRI studies also show that 77% of Wisconsin communities depend exclusively on trucks to move their goods and that a wide range of supporting businesses serve these companies. “Small and midsize fleets often want to be safer but lack the resources necessary to impact safety in the ways that some of the more successful mega-fleets have,” Chuck Wallace, HDVI CEO and co-founder, said. “A core tenant of the HDVI approach is to bring the sophisticated safety and risk-management tools that the mega-fleets use to the small and midsize trucking company as part of a holistic, end-to-end solution while maintaining that one-on-one relationship with a dedicated fleet services representative.” HDVI Shift uses onboard telematics data to inform real-time risk models. “With HDVI Shift, fleets can save up to 12% on their monthly premium based on real-time driver safety, rather than waiting for their insurance company to recognize their safety gains, which could take years,” a news release stated. HDVI delivers a more connected and tailored service than traditional insurance providers by providing safety insights through the fleet portal and meeting with fleets monthly to help them identify where they can focus their efforts to improve safety and reduce insurance costs. Drivers are also engaged through the HDVI Driver+ mobile app, where they can earn rewards and receive valuable safety information. Included in an HDVI Shift policy is the cost of fleets to use video telematics and electronic logging systems. HDVI Shift pays for the hardware and subscriptions for a wide range of video telematics devices. HDVI is focused on small and midsized trucking fleets and is currently available in 12 states, including Alabama, Arkansas, Georgia, Illinois, Indiana, Michigan, Minnesota, Missouri, Ohio, Tennessee, Texas and Wisconsin. Backed by $32.5 million in Series B funding, a growing workforce and talented senior leadership, the company continues to develop new products and will grow its presence to 25 states by the end of 2022.  

ATHENS, Ga. – Carrier Transicold has named Transport Refrigeration of South Dakota Inc. and Chile’s TCC Equipamientos SPA winners of its 2021 Dealer of the Year Awards for North America and Latin America, respectively. “In 2021, our dealer network demonstrated the power of teamwork to meet and exceed customer expectations in the face of ever-changing challenges and position us to nimbly adapt to continued changing conditions in 2022,” Mike Noyes, vice president and general manager of Truck Trailer Americas at Carrier Transicold, said. “We applaud their continued success in providing exceptional service to our cold chain customer base.” Owned and operated by the Keizer family of companies, Transport Refrigeration of South Dakota is located in Sioux Falls, South Dakota. “Being named Dealer of the Year was a wonderful surprise,” Shane Keizer, president and son of the company’s late founder Jim Keizer, said. That legacy of personal service excellence transcends to today’s team at Transport Refrigeration of South Dakota and contributed to its latest recognition, Keizer said. Having joined the Carrier Transicold dealer network in 2018, Santiago-based TCC Equipamientos focuses on truck refrigeration products that support Chile’s diverse cold chain operations. “Under the leadership of General Director Paulo Castelli, the TCC Equipamientos team has done an extraordinary job of growing its business, building customer satisfaction and expanding the reputation of Carrier Transicold as the leading brand throughout Chile,” Alejandro Genera, director of sales in Latin America Operations for Carrier Transicold, said. In a first, Carrier Transicold awarded two recipients of its Extra Mile Award for exemplary customer service: Central Transport Refrigeration, Winnipeg, Manitoba, and Southern States Utility Trailer Sales Inc., Richland, Mississippi. In total, Carrier Transicold recognized 59 of its more than 200 dealerships throughout the Americas with 94 awards for achievements in customer satisfaction, growth, business investment and service proficiency during the prior year. For 2021, six individuals from five dealerships were recognized for outstanding performance: North America Sales Manager of the Year: James Tucker, W&B Service Company, Duncanville, Texas North America Service Manager of the Year: Shane Tippie, Carrier Transicold of Utah, Salt Lake City North America Parts Manager of the Year: Kevin Barrett, Southern States Utility Trailer, Richland, Mississippi Latin America Sales Manager of the Year: Ruben Duran, and Latin America Parts Manager of the Year, Azrael Garcia, both of RETO S.A. de C.V., Guadalajara, Mexico Latin America Service Manager of the Year: Irvin Picaso, of Coolcare Solutions S.A. de C.V., Aguascalientes, Mexico

Birmingham, Ala. – REPOWR announced March 15 it closed a $4.2 million Seed round. The round was led by Koch Disruptive Technologies (KDT), the growth and venture arm of Koch Industries, Inc., with participation from Perot Jain Alliance, Plug and Play Venture Group, and several strategic angel investors. The transportation equipment market has virtually dissipated over the last two years and fleets of all sizes are desperate for additional equipment, specifically trailers. The REPOWR marketplace allows users to book underutilized trucks and trailers within minutes. “The amount of underutilized trailers in the supply chain is just mind-blowing and we recognized the opportunity and need to address this problem, which has ramifications across the entire supply chain,” Patrick Visintainer, CEO of REPOWR, said. “Our job at REPOWR is to bring visibility and value to this ‘invisible trailer capacity’ so the assets keep generating revenue for owners and borrowers. These are valuable assets that all fleets – but especially smaller fleets – need, so we set out to introduce a network marketplace with book-it-now capabilities.” REPOWR is currently working with some of the largest truckload fleets in America to pioneer the world’s first collaborative asset-sharing platform. These early adopters have been equipped with the technology necessary to seamlessly share assets among both internal teams and 3rd-party networks. Users can deploy underutilized assets to the book-it-now marketplace, where asset owners can optimize trailer pools and reduce supply chain costs. “Koch Industries is a global company with significant operations across the entire supply chain, and we appreciate the unique value proposition that REPOWR brings,” Byron Knight, COO and managing director at Koch Disruptive Technologies, said. “Our investment in REPOWR is a vote of confidence in the company’s vision to develop collaborative tools that offer shared visibility and secure chains of custody, giving operators the upper-hand in over-the-road transportation.” REPOWR sees networks as crucial to the successes of future supply chains. During the peak of the 2020 supply chain crunch, REPOWR’s founding team recognized the insensible amount of waste caused by the lack of visibility and collaboration in the commercial equipment space. In fact, REPOWR estimates that there is more than $45 billion in underutilized trucks and trailers within the world’s supply chain. “Traditional methods for sourcing equipment capacity are failing trucking companies, which ripples throughout the supply chain and ultimately affects the economy and consumers,” Spencer Ware, COO of REPOWR, said. “As an industry, we’re overlooking at least $45 billion in underutilized trucks and trailers alone. Collaboration unlocks transparency and visibility, so marketplace users are empowered to connect with 3rd parties to seamlessly share latent asset capacity.”  

COLUMBUS, Ind. – In the release of its Commercial Vehicle Dealer Digest, ACT Research reported that despite materially higher downside risks to the outlook, there is still much to like about the U.S. economic setup, with jobs continuing to outstrip the supply of labor, corporate profits coming off record performance in 2021, and consumers’ balance sheets remaining well positioned – if less well positioned than before the recent market correction. The report, which combines ACT’s proprietary data analysis from a wide variety of industry sources, paints a comprehensive picture of trends impacting transportation and commercial vehicle markets. This monthly report includes a relevant but high-level forecast summary, complete with transportation insights for use by commercial vehicle dealer executives, reviewing top-level considerations such as for-hire indices, freight, heavy and medium duty segments, the total US trailer market, used truck sales information and a review of the U.S. macro economy. “For the guys who buy commercial vehicles, the virus continued to bend consumer spending to goods and away from services in early 2022,” Kenny Vieth, ACT president and senior analyst, said. “Port backlogs and inventory restocking should support freight volumes through the first half of this year, but the longer oil prices remain elevated, the more business and consumer dollars will be diverted. In addition to significant lingering port congestion, pent-up demand in the manufacturing sector broadly remains elevated and corporate profits continue their record-setting run, allowing businesses to invest in productivity enhancing equipment.” Veith said sed commercial vehicle prices are at record levels across Class 8 age and mileage nodes. “Data indicate record valuations for medium-duty and trailer assets as well.” He said. “As 2022 progresses, it is becoming increasingly clear that any victory in the form of higher production and sales is going to be hard fought. Be it inflation, supply chain, or now heightened geopolitical concerns, makers and buyers of commercial vehicles will face more challenges in discharging their duties this year.”  

MADRID — Spain’s government and the country’s main trucking federations have reached an agreement on financial help for an industry that is hurting from high gas prices, but self-employed truckers said Friday they would continue a 12-day strike. Russia’s war in Ukraine has helped drive gas prices higher in Europe, making it more expensive for truckers to fuel their vehicles. After 12 hours of negotiations that ended after midnight, the Socialist-led government announced it is discounting 0.20 euros ($0.22) per liter of gas for truckers as part of a package of measures worth more than 1 billion euros ($1.1 billion). A liter of gas for truckers currently costs around 1.80 euros ($2). Spanish Transport Minister Raquel Sánchez said the discount would translate into savings of around 700 euros ($771) a month per truck. The government said it would also provide 450 million euros ($495 million) in direct financial aid to road haulage businesses, as well as special credit terms. The Platform for the Defense of the Road Transport Sector, which is not affiliated with Spain’s larger national trucking associations or road haulage companies and does not sit at the sector’s negotiating table with the government, called on its members to continue their strike and to attend a street protest in Madrid on Friday. The group said it would not budge from its demands, which go beyond gas prices. It claims that large distribution companies engage in unfair competition, forcing down the prices for freight, and is seeking better working conditions for truckers, including retirement at age 60. “After 12 days we’re not going to throw in the towel. It’s now or never,” the Platform said on its Facebook page. The strike has disrupted supply chains and brought scattered shortages at stores of fresh products, such as vegetables, milk and fish. Thousands of police have escorted truck convoys and arrested picketers trying to stop working truckers.