Why is this happening?
Amid a shakeout among trucking companies & production cuts and layoffs among truck makers.
“This, I think, was the Big One, where the fleet valuations fell out and took this company out.”
Creditors trying to repossess trucks over the weekend. Thousands of drivers on the road, some stranded. Employees left in the dark. Shares plunge 93% this morning from nearly nothing to practically nothing.
Orders for heavy trucks re-plunged, after false bounce off the bottom.
Efforts to frontrun tariffs was part of it. But now, there’s more to it.
“I do believe that in North America it is a cyclical downturn”: Cummins COO.
The hangover after the tariff-front-run boom last year.
“Fleets are nervous. The latest manufacturing and construction numbers are concerning. The trade issue with China looms.”
What US Freight Shipments and Pricing Say About the Slowdown.