12 Aug IEA Cuts Oil Demand Outlook on Virus The International Energy Agency cut forecasts for global oil demand “sharply” for the rest of this year as the resurgent pandemic hits major consumers, and predicted a new surplus in 2022. Read more...
11 Aug Detroit Supplies Most Class 8 Engines Overall in 2021 First Half Detroit, the engine brand of Daimler Trucks North America, supplied the most Class 8 engines in North America during the first half of this year, nudging past independent engine maker Cummins Inc. by 1,299 units or 1 percentage point. Read more...
11 Aug July Class 8 Sales Are Second-Lowest of 2021 Class 8 retail sales in July neared 17,000 and improved 16.3% compared with a year earlier, but landed at the year’s second-lowest level, WardsAuto .com reported. Read more...
11 Aug Consumer Prices Rose in July but at Slower Pace WASHINGTON — Prices for U.S. consumers rose last month but at the slowest pace since February, a sign that Americans may gain some relief after four months of sharp increases that have imposed a financial burden on the nation’s households. Read more...
11 Aug FMCSA to Streamline Household Goods Moving Regulations The Federal Motor Carrier Safety Administration has announced plans to update regulations for transportation of household goods to reduce costs for movers and mitigate the growing problem of fraud in consumer moves. Read more...
11 Aug Eaton Profits, Revenue Soar in Q2 Eaton Corp. reported second-quarter net income and revenue surged while segments margins set a record for the quarter. Read more...
11 Aug July US Trailer Orders Hit Lowest Level of 2021, FTR Reports U.S. trailer orders in July slid some more, barely clearing 8,000 units and setting a new low point of this cycle, FTR reported. Read more...
11 Aug Proposed USPS Surcharges May Mean Mail Will Cost More This Holiday The U.S. Postal Service on Aug. 10 announced it is seeking temporarily higher rates for packages during the 2021 holiday season. Read more...
11 Aug Uber-Backed Joby Goes Public on the Promise of Air Taxis by 2024 Joby Aviation, which promises to build and operate a commercial fleet of aerial taxis by 2024, will begin trading Aug. 11, testing the imaginations of public investors. Read more...
11 Aug Amazon-Backed Rivian in Talks for $5 Billion Texas Plant Rivian Automotive Inc., the electric-vehicle startup backed by Amazon.com Inc., is in talks to invest at least $5 billion to build a factory near Fort Worth, Texas, according to a document obtained by Bloomberg News. Read more...