Class 8

Several members of the Benzinga team took part in a tour of the Hyliion Hypertruck ERX and test drove the vehicle. Here’s what the Benzinga team and Hyliion CEO Thomas Healy had to say.  What Happened: Trucking company Hyliion Holdings Corp (NYSE: HYLN) went public in 2020 via...

Bookings of new Class 8 trucks rose to their highest level in five months in August as manufacturers opened their 2022 order books a crack. But the completion of equipment is hostage to microchip shortages and across-the-board supply constraints. In Chillicothe, Ohio, some 350 Kenworth Truck Co....

Class 8 truck orders in July significantly trailed demand for new equipment because manufacturers beset by supply shortages cannot build enough trucks. Preliminary North America net orders in July were 25,800 units, unchanged from the  25,809 orders booked in June, according to ACT Research. "In...

Preliminary new orders of Class 8 trucks took a relative breather in June with about 26,000 bookings, 11% more than May and 61% better than the COVID-impacted number in June a year ago. The issue holding backorders is that fleets know they cannot get delivery of the equipment until well into next...

A year after the global pandemic nearly zeroed out Class 8 truck orders, the reopening of the economy is stressing supply chains, making it unlikely that any of April's 33,500 orders will be produced this year. The situation is practically a repeat of 2018, when manufacturers produced 325,000...

Recent SPAC Hyliion Holdings Corp (NYSE: HYLN) reported its first public quarter since going public Thursday morning. Earnings: The net loss for the first nine months of the fiscal year for the electric truck maker was 76 cents versus a loss of 49 cents in last year’s comparable period....

XL Fleet, an electrification solutions provider for Class 2-6 vehicles, is going public via a merger with SPAC Pivotal Investment Corporation II (NYSE: PIC). About XL Fleet: XL Fleet provides electrification solutions for commercial vehicles using a “proven, proprietary technology and...

Tortoise Acquisition Corp (NYSE: SHLL), a SPAC that's trading more than 400% higher on the year, is set to merge later this month with Hyliion. What Happened: Tortoise Acquisition filed for a shareholder meeting to be held at 9:30 am on Sept. 28. Shareholders will vote on whether to approve the...

The volume of Class 8 used trucks rolling onto the virtual auction block in June rose. Newer, low-mileage trucks increased in value even as large groups of identical sleeper cabs pushed month-over-month prices lower. One exception: A 2016 model sleeper cab sold for an average $27,313, up 6.9% or $...

Preliminary orders of new Class 8 tractors dropped 20% in February from January, raising the specter that coronavirus could be worsening already anemic bookings by risk-averse fleets. "It appears fleets have decided to delay some orders until the health crisis has passed," said Don Ake, vice...

The ratio of retail sales of Class 8 trucks to inventories in January ranked second-highest in industry history, trailing only the worst month of the Great Recession a decade ago. That means that without a rebound in orders, manufacturers will have to cut production further to achieve balance,...

Preliminary Class 8 truck orders rose 10% in January compared with the same month a year ago, but the 17,700 bookings trailed the fourth-quarter-2019 average as fleets place orders only for equipment they absolutely need. "The Class 8 market remains in equilibrium with orders well matched to...

Orders of new Class 8 trucks tumbled to their lowest annual level in a decade in 2019 as a softening economy and a booking frenzy in 2018 combined to clobber orders. Year-over-year new truck orders fell again in December, though the 20,000 bookings were up 14% over November, according to ACT...

Preliminary orders for new Class 8 trucks tumbled again in November after one month of improved bookings, new evidence that a slowing manufacturing economy is sapping all but critical replacement demand. FTR Transportation Intelligence reported orders by the six major brands totaled 17,300 units,...

The traditional ordering season for new Class 8 trucks opened in October with the highest activity in 11 months. Still, the number of orders placed was the weakest for an October since 2016 — and 51% below October 2018. Fleets placed 22,100 orders for new power units, according to ACT Research...