28 Jan GM Sets Goal of Going Largely Electric by 2035 General Motors Co. has set a goal of making the vast majority of the vehicles it produces electric by 2035, and the entire company carbon neutral, including operations, five years after that. Read more...
28 Jan Norfolk Southern Reports Decline in Q4 Earnings Norfolk Southern Corp. saw its fourth-quarter revenue fall by 4% as freight volume fell in most of the commodities it moves. Read more...
28 Jan December Used Class 8 Price, Sales Climb Used Class 8 sales rose in December along with double-digit gains in prices as the average heavy-duty truck’s mileage and age remained below year-earlier levels, ACT Research reported. Read more...
28 Jan Chinese Trucking Startup Full Truck Alliance Eyes $1 Billion US IPO Uber-like Chinese startup Full Truck Alliance is preparing for a U.S. initial public offering that could raise at least $1 billion as soon as this year, after eking out a slim 2020 profit thanks to a pandemic-era shipping surge. Read more...
28 Jan COVID-19 Package to Go Before Senate in February, Chuck Schumer Says A new round of COVID-19 economic relief that would include aid for hard-hit transportation systems will be up for consideration in early February, Senate Majority Leader Chuck Schumer indicated Jan. 28. Read more...
28 Jan Canadian Pacific Reports 20.7% Earnings Gain in Q4 Canadian Pacific Railway posted higher net income despite slightly softer revenue in the fourth quarter, the Class I freight railroad announced Jan. 28. Read more...
28 Jan Pilot Co. Unit to Buy Ethanol Plant With Sights on Recovery A unit of truck stop chain Pilot Co., which is partly owned by Warren Buffett’s Berkshire Hathaway Inc., is buying an ethanol plant just as the beleaguered industry may be turning around. Read more...
28 Jan Economy Grows 4%; Transportation Services See Small Drop The U.S. economy downshifted in the final three months of 2020 after record third-quarter growth, as the pandemic battered the labor market and limited Americans’ ability and willingness to spend. Read more...
28 Jan Jobless Claims Fall by More Than Expected Applications for U.S. state unemployment benefits fell last week, signaling that job cuts may be easing after rising in December and early January. Read more...
28 Jan AV Holds Promise, But Lacks ‘Go Anywhere’ Ability, Panelists Say Experts advised people to manage their expectations of automated vehicles for their traveling capabilities. Read more...