Freightliner claimed the largest market share for the month with 6,551 trucks sold, accounting for 36.2% of all sales. (Daimler Truck North America) U.S. Class 8 retail sales closed in on nearly two years of year-over-year declines in April, according to data from Wards Intelligence. Sales decreased 8.7% to 18,078 units from 19,798 during the ...more
President Donald Trump and Saudi Crown Prince Mohammed bin Salman speak during a meeting at the Royal Palace in Riyadh on May 13. (Alex Brandon/AP) Saudi Aramco plans to spend $3.4 billion on its Motiva refinery in Texas, the largest fuelmaking plant in the U.S. The Saudi oil giant announced the project soon after Donald ...more
A customer checks his shopping receipts at a Costco Wholesale store in Glendale, Calif. Egg prices fell 12.7%. (Photo/Damian Dovarganes/AP/File) WASHINGTON — Inflation cooled for the third straight month in April even after some of President Donald Trump’s tariffs took effect, though economists and many business owners expect inflation will climb in the coming months. ...more
The Maersk Skarstind is moored at the APM Terminals at the Port of Los Angeles. (Damian Dovarganes/AP) A China-U.S. deal to slash trade tariffs is set to push freight rates higher, as companies rush to use a 90-day grace period to ferry goods across the Pacific Ocean. The rapid escalation of levies in recent weeks, ...more
A driver unplugs an electric vehicle at a charging station in Hudson, N.Y. (Angus Mordant/Bloomberg News) House Republicans are proposing to eliminate a tax credit for electric vehicles and phase out incentives for the production of clean energy to help pay for President Donald Trump’s massive tax package. The incentives put in place by former ...more
The JBS Greeley meatpacking facility in Greeley, Colo. (Chet Strange/Bloomberg News) JBS SA said quarterly profit rose more than expected, with chicken making up for the bulk of the increase as the world’s largest meat supplier faces deepening losses at its U.S. beef business. Adjusted net income for the three months ended in March rose ...more
Daimler Truck expects to sell between 430,000 to 460,000 vehicles globally in 2025. (Daimler Truck) Daimler Truck Holding AG cut its sales and profit guidance for the year, citing increasing economic uncertainty in North America. Adjusted earnings before interest and tax is now expected to range between 5% and negative 5% year over year because ...more
Packages inside a delivery truck in Beijing. (Na Bian/Bloomberg News) House Republicans have proposed using their giant tax and spending bill to end duty-free imports of cheap foreign goods, a move that would eliminate a perk companies around the world have used to grow their U.S. business for the past decade. The provision, tucked into ...more
Tesla CEO Elon Musk walks to the stage to speak at the Butler Farm Show on Oct. 5, 2024, in Butler, Pa. Musk has said he is stepping back from his work as President Donald Trump’s government cost-cutting czar. (Alex Brandon/Associated Press, file) NEW YORK — Federal safety regulators have asked Elon Musk’s car company ...more
Landstar's Q1 2025 included a $4.8 million pretax charge related to the fraud incident. (John Sommers II for Transport Topics) Landstar System reported its first-quarter earnings following a two-week delay caused by a supply chain fraud incident, the company said May 13. The Jacksonville, Fla.-based motor carrier posted net income of $29.8 million, or 85 ...more
