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Month: January 2016

Pricing on Trucks: Up or Down in 2015?

Sale of some trucks up dramatically in December

The volume of sleeper tractors sold through the nation’s largest no-reserve auction companies increased dramatically in December, following a subdued November. Over the past five months, volume has followed an every-other-month pattern, with August, October, and December showing extremely high volume, and September and November showing much lower volume. December’s volume was a surprise to us, as we had predicted volume would be limited due to fewer auctions on the calendar in November and December compared to previous months.

Looking at our benchmark group of the three highest-volume sleeper tractors, we estimate that there will have been nearly 120 trucks of model years 2011 and 2012 sold this month through one of the two large nationwide no-reserve auction houses. 2013’s will have seen much less volume, at approximately 35. See graph below for detail.

Pricing for the highest-volume model in this group was hit hard as a result of the increased volume, with trucks of model year 2013 bringing 18% less money than last month. 2012’s brought 12% less, and 2011’s brought 9% less. Since September, 3-5 year-old examples of this model lost an average of 22% of their value. See graph below for detail.

It looks like devaluation at the no-reserve auctions is starting to impact other auctions and the dealer-to-dealer channel to a greater extent. Stay tuned for December estimates of the total wholesale universe early next week.

 

2015, nada.com, Chris Visser:

Transport Canada Commercial Vehicle Safety

Safety of Commercial Vehicles in Canada

Transport Canada takes the safety of commercial vehicles on Canada very seriously. Federal regulations pertaining to commercial buses and heavy trucks under the Canada Motor Vehicle Safety Standards (CMVSS) set requirements on new equipment only relating to such things as brake requirements for trucks and trailers, vehicle lighting systems, tires and underrun barriers. There are no federal regulations relating to after-market items available to the trucking industry.

Truck and Road Safety

Truck and Road Safety

Transport Canada has no jurisdiction over the inspection of commercial vehicles in Canada. However, under the National Safety Code (NSC), which is a code of minimum performance standards applying to all persons responsible for the safe operation of commercial vehicles, carriers must ensure that their vehicles meet maintenance and performance standards as prescribed in the regulations. On-road inspections of commercial vehicles are typically conducted in compliance with the Commercial Vehicle Safety Alliance (CVSA) roadside inspection requirements.

Matters relating to the vehicle weights and dimensions also falls within the provincial / territorial domain and the enforcement of those laws are within the purview of provincial / territorial law enforcement authorities. There is a Task Force on Vehicle Weights and Dimension mandated to improve uniformity in regulations governing the weights and dimensions of commercial vehicles operating between provinces and territories.

What Drives you to drive a Truck?

What Drives You in Trucking?

Bison Transport launched on Jan. 1 its “What Drives You” social media campaign, which aims to promote the variety of reasons drivers and other industry professionals do what they do.

“Whether it’s the feeling of the open road, the opportunity to travel the continent or the importance of making it home safely to their family, each individual has a unique reason for doing what they do, and Bison wants to hear about it,” the company said in a news release.

Bison is encouraging its followers to join the conversation by sharing a photo or a status on Facebook or Twitter, using #TellBisonWhatDrivesYou

“We see this as a great opportunity for members of the trucking industry to share what keeps them moving every day,” said Lionel Johnston, corporate marketing manager at Bison. “It also provides us with a chance to learn more about our workforce and better serve them.”

As an added incentive, Bison will award a die cast model truck to one lucky participant each month of the campaign.

See our Twitter Page and post away https://twitter.com/TranscourtTank

What makes you drive a truck?

What makes you drive a truck?

Published by Transcourt Leasing

Trucking Industry Impact: Fuel prices to continue decline in 2016

If you’re a shipper or transportation company, in the new year, the first few months can provide insight into budget and costs” Here are results from a recent survey by Reuters.

Low oil prices are likely to linger as analysts dropped their predictions further for 2016, according to a Reuters poll, assuming OPEC will not cut output when it meets Dec. 4. The average price forecast for benchmark North Sea Brent crude futures for 2016 at $57.95 a barrel is 57 cents below last month’s poll, the survey of 31 analysts showed.

Analysts surveyed by Reuters have become increasingly bearish as the year has worn on. Six months ago, the monthly poll showed they expected Brent to average $70.90 next year and they have cut their estimates every month since then. OPEC is determined to keep pumping oil vigorously despite the resulting financial strain even on the policy’s chief architect, Saudi Arabia, alarming weaker members who fear prices may slump further towards $20. Standard & Poor’s rating agency forecasts Saudi Arabia’s budget deficit will rocket to 16% of GDP in 2015 from 1.5% in 2014.

U.S. Oil Wells, price forecasted to decline in 2016

“There is no reason for Saudi Arabia to change its strategy because it’s working and needs to continue this a little while longer in order to entrench the gains it has achieved.” Analysts say OPEC will not re-evaluate its policy before mid-2016 when it has a scheduled meeting. Oil demand growth will be subdued compared to last year, analysts said. “Declining demand growth should keep inventory withdraw rates rather tepid, prolonging the period required for the industry to absorb the multi-year high stockpiles,” said Giorgos Beleris, analyst from Thomson Reuters’ Oil Research and Forecasts.

U.S. crude is expected to average $53.73 a barrel next year, compared with last month’s forecast of $54.4. West Texas Intermediate crude has averaged $49.95 so far in 2015. Nine of the 29 respondents who participated in last month’s poll lowered their forecasts this month

U.S. Oil Wells, price forecasted to decline in 2016

for the outlook for Brent crude oil prices in 2016.
Article courtesy of:  Transport Topics, American Trucking Associations Inc.