A Roundup of News from the Transportation Sector.
As one of the largest sellers of used commercial trucks and transport equipment, Ritchie Bros. has its finger on the pulse of the transportation industry. Here’s a roundup of recent news from the transportation sector.
Truck transport jobs in the U.S. Rise in March
The truck transportation industry added jobs in March and posted stronger revised numbers for February, according to figures from the U.S. Bureau of Labor Statistics.
Freightwaves reports that the truck transportation sector in the United States climbed to 1,482,700 seasonally adjusted jobs, up from 1,479,400 jobs in February. However, the February number was revised up from the initial report of 1,475,700 jobs in the sector.
Nikola Two Truck Will Run 900 Miles on Tank of Hydrogen
Nascent zero-emissions truck company Nikola has announced that its Two fuel-cell electric vehicle (FCEV) now has a range of up to 900 miles.
Transport Topics reports that the Nikola Two FCEV sleeper model expands on earlier plans for a long-distance truck with a range of up to 745 miles that Nikola staked out in 2018. The truck is expected to be ready to launch in late 2024.
Near 4% Growth Forecasted for Heavy Commercial Truck Market
Data Bridge Market Research released a report saying the heavy commercial truck market is expected to witness market growth at a rate of 3.90% between the years 2020 to 2027.
The full report provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth.
Class 8 orders hit 40,000 in March
Demand rates in March for new Class 8 trucks were up 422% compared to a year ago when the first wave of COVID was shutting down manufacturing around the world. They were down 10% compared to February, according to ACT Research.
However, many of the 40,000 bookings in March will have little chance of being filled until 2022 because of a growing backlog and supply chain shortages, according to Freightwaves.
Ritchie Bros. sells tens of thousands of truck tractors each year. We reach buyers from around the globe through our multiple sales channels every year. Learn more about selling trucks and transport equipment with Ritchie Bros., or contact us to discuss your options.
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