Business

Mergers & Acquisitions

Penske Truck Leasing to acquire DeCarolis Truck Rental

Penske Truck Leasing announced it has reached an agreement to acquire the assets of DeCarolis Truck Rental Inc. The anticipated closing is Dec. 17, 2021.

December 3, 2021

Penske Truck Rental location

Growth strategies

Florida Kenworth dealer moves into expanded location

Kenworth of Jacksonville has relocated its full-service dealership to a larger, newly constructed facility to meet increasing Kenworth customer demands due to residential and commercial growth in the greater Jacksonville area.

December 3, 2021

New Kenworth of Jacksonville facility

Outlook and Benchmarking

Freight slipped by more than 1.5 billion tons in 2020

COVID-19's impact on commercial freight was quantified in the latest edition of American Trucking Associations' (ATA) American Trucking Trends 2021, released this week.

December 3, 2021

Several trucks on roadway

Michelin announces price bump

The company says these increases will be effective Jan. 1, 2022, in the United States and Canada. These updated prices will come into effect for orders invoiced starting on Jan. 1, 2022.

December 2, 2021

pricing goes up

Mergers & Acquisitions

RDO Truck Centers acquires Iowa dealer

RDO Truck Centers announced Thursday it has reached an agreement to purchase the assets of Twin Bridges Truck City, a Mack and Volvo commercial truck dealer group in Iowa.

December 2, 2021

CLA article offers guidance on PPP loan forgiveness timing

CliftonLarsonAllen (CLA) has released a new article addressing the three recently issued revenue procedures by the Internal Revenue Service (IRS) providing guidance with respect to the timing of tax-exempt income from PPP loan forgiveness.

December 1, 2021

New PPP loan forgiveness guidelines released

Growth strategies

Utility dealer network adds location in Pacific Northwest

Utility Trailer Sales of Washington Company has opened its third dealership. The new facility is located in Richland, Wash.

December 1, 2021

Utility Trailer Sales of Washington

Growth strategies

Fleetio adds Interstate Truck Center as mobile service provider

Fleetio customers have access to Interstate Truck Center’s roadside repair and diagnostic services to ensure their assets arrive at their destination safely.

November 30, 2021

Logos of Fleetio and Interstate Truck Center

Mergers & Acquisitions

RV Retailer to acquire Pharr RVs, Affinity RV

RV Retailer announced the acquisition of Pharr RVs and Affinity RV with locations in Texas and Arizona. The acquisitions will be completed in December.

November 30, 2021

Pharr RV staff welcomes new owner RV Retailer.

Mergers & Acquisitions

Market moves: Noregon ownership changes; national dealer, aftermarket groups expand in November

After a slow October, acquisitions in trucking's dealer, aftermarket and supplier channels picked up in November. Each segment of the market saw a similar number of transactions, though the biggest news arguably came in the service technology sector.

November 29, 2021

M&A roundup image

Mergers & Acquisitions

The Jordan Company completes acquisition of Echo

Echo Global Logistics announced it has been acquired for $48.25 per share in cash by an affiliate of The Jordan Company, a global private equity firm.

November 24, 2021

Alternative power

Ev Dynamics enters North American new energy vehicle market

Ev Dynamics has expanded its reach by entering the North American new energy vehicles market with a solution for bus, coach, truck and van manufacturers.

November 23, 2021

Ev Dynamics chassis for battery or hydrogen vehicles.

Stellantis North America leadership team earns diversity award

Stellantis North America has been selected as the overall winner of the 2021 CADIA Impact Awards in the category of Leadership Commitment.

November 23, 2021

Executives at a ceremony award for Stellantis

Growth strategies

Power Heavy Duty adds three members

Power Heavy Duty has expanded its network of independent truck parts and service specialists with the addition of three distributors, Romaine Electric, Central Truck & Diesel, Inc. and Dixie Auto Parts.

November 19, 2021

Registration open for 2022 TMC Annual Meeting

Registration has opened for the 2022 ATA Technology & Maintenance Council (TMC) Annual Meeting & Transportation Technology Exhibition, set for March 7-10, at the Orange County Convention Center in Orlando.

November 18, 2021

Growth strategies

HDA Truck Pride grows in Florida

A & D Auto Electric is located just off US-1 in the heart of southern Florida. Its retail store features a full showroom, and it stocks automotive, industrial, marine, small engine, agricultural, and heavy-duty parts.

November 18, 2021

Outlook and Benchmarking

Meritor reports sales of $945 million in Q4

Meritor posted sales of $945 million, up $187 million for the fourth quarter of fiscal year 2021, or approximately 25 percent from the same period last year.

November 17, 2021

Mergers & Acquisitions

FleetPride opens 60th service center through acquisition

FleetPride has acquired the assets of Jim's Truck & Trailer Equipment in Wichita Falls, Texas.

November 16, 2021

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CIT Trucks headquarters in Normal, Ill.

CIT Trucks wins 2021 Successful Dealer Award

CIT Trucks was named the winner of the 2021 Successful Dealer Award during a finalist banquet Wednesday in Phoenix.

Wieland International front gate

2021 Successful Dealer Award finalist Wieland International

TNTX Truck Lonestar Truck Group location

2021 Successful Dealer Award finalist TNTX Truck

Container ship part of the bottleneck in L.A. port

HDMA Pulse Webinar spotlights ports in parts shortage

Save technicians time and improve fleet uptime with the Mobil Delvac team

Save technicians time and improve fleet uptime with the Mobil Delvac team

Learn how to move your used trucks faster

With unsold used inventory depreciating at a rate of more than 2% monthly, efficient inventory turnover is a must for dealers. Download this eBook to access proven strategies for selling used trucks faster.

Used Truck Guide Cover

Selling PMs: How to Attract New Customers

Fullbay’s new ebook shows you what data to gather and how to present potential PM services to your customers.