GB Corp’s Post

As LTL freight carrier, Saia Inc., celebrates its 100th year of operation, the trucking company is investing $1B to fuel future growth. By the end of this year, Saia will have reopened 21 of the terminals the company acquired from Yellow's bankruptcy proceedings. The firm is making headway in becoming a freight transport giant that will eventually serve shippers from coast-to-coast: https://lnkd.in/gkFeYpE6 #saia #freight #trucking #shipping #ltl

FCA plans to sell up to 4,400 freight cars in 2024   The company's annual financial statements included a forecast of this increase in sales, which is expected to reach 4,000–4,400 cars, up from 3,000 cars delivered in 2023 (-5% to 2022). The car builder anticipates a revenue growth to USD 520–572 mln, compared to last year’s USD 358.1 mln, representing a 1.8% decline in 2022.   FreightCar America, Inc. (FCA) attributes these expectations to the completion of the capacity expansion of its plant in Castaños, Mexico, in February (for further details, please see https://lnkd.in/g2xdJ9vu). The investment of USD 34 mln in the project also created 500 jobs. The plant is now capable of producing more than 5,000 freight cars a year, a figure that is twice as high as in 2023, according to FCA CFO Mike Riordan.    In his comments on the disappointing 2023 results, he highlighted the impact of currency fluctuations and supply disruptions resulting from the closure of the US-Mexico border in December.   Image: clusterindustrial #rollingstock #rail #railway

FTA proposes issuing a phased three-year general waiver of its Buy America rolling stock requirements for certain battery-electric minibuses used in public transportation, due to the unavailability of compliant vehicles in the marketplace. This proposed waiver comes in response to letters of support on behalf of more than 150 transit agencies from across the U.S. Vehicles would need to meet certain criteria detailed in the proposed waiver. The general non-availability waiver is not specific to any manufacturer’s offering. The public comment period is open through Jan. 6. FTA’s Buy America statute requires that rolling stock, including minibuses, must have more than 70-percent domestic content and that final assembly must occur in the U.S. FTA concluded there are currently no electric minibuses that meet FTA’s domestic content or final assembly requirements. To encourage potential market entrants to build the requisite domestic supply chains and establish a final assembly facility in the U.S., FTA proposes that the waiver would phase out over time and end three years after it is finalized.

UK commercial vehicle production had its best first quarter since 2008, surging by 27.4% to 32,626 units, with export volumes increasing by 57.9%. Despite strong growth in January and February, March saw a -19.2% decline in production to 7,943 units, reflecting market normalisation and supply chain challenges. The Society of Motor Manufacturers and Traders (SMMT) remains optimistic, expecting growth in 2024 driven by rising electric vehicle output. Learn more here: https://bit.ly/3z1lxCv. #CommercialtyReBusiness #CommercialVehicles #VehicleProduction #SMMT

Less than 1 in 100 drivers participating in lease-to-purchase agreements end up owning the truck, according to FreightCaviar coverage of a recent FMCSA report: "A new FMCSA report has pulled back the curtain on lease-purchase agreements in trucking, labeling them exploitative schemes designed to trap drivers in debt rather than help them achieve truck ownership." Read more here: 🎣 FMCSA’s Damning Report

Sharing some Automotive news, respect with German auto-market: As of January 25, 2025, the German automotive industry is navigating a complex landscape marked by significant developments: 1. European Commission's Proposed EV Subsidy Program The European Commission is formulating a subsidy initiative to bolster the electric vehicle (EV) market across Europe. This program aims to unify disparate national subsidies and enhance the competitiveness of European carmakers against rapidly expanding Chinese EV manufacturers. German Chancellor Olaf Scholz has confirmed Germany's involvement in these discussions, especially following the country's abrupt termination of its own EV subsidy program in 2023, which led to a decline in domestic EV sales. 2. German Auto Industry Welcomes Chinese Investment Germany's automotive industry lobby has expressed a positive stance toward Chinese investments in the domestic market. This openness comes amid increasing competition from Asian carmakers and reflects a strategic approach to fostering international collaboration within the industry. 3. Potential Impact of U.S. Tariffs on German Carmakers German car manufacturers have raised concerns over potential U.S. tariffs, suggesting that such measures could adversely affect American consumers and the broader automotive industry. Historically, tariff threats have been used to encourage automakers to increase production within the United States. 4. Challenges Amidst the Electric Transition The German automotive sector is experiencing significant challenges as it transitions to electric mobility. Volkswagen has announced plans to close three plants in Germany, and Audi is halting production in Belgium, leading to concerns about a potential crisis in Europe's car industry. However, some industry observers view these developments as part of a necessary transformation toward sustainable transportation. These developments underscore the dynamic and evolving nature of the German automotive industry as it adapts to global economic shifts, technological advancements, and policy changes. Reference from guardian.com Please feel free to ask questions regarding it. #Volkswagen #Tesla #Audi #Germany

Durability and savings with no compromise on performance – that’s what the tried-and-tested pre-owned IVECO 480 Stralis offers your business! With a 42-month installment plan starting at just R19,599* per month (including VAT), subject to qualifying criteria, you can keep your operations running smoothly and reliably. Contact Truck Centre Durban to secure your powerful Stralis! Tel: 031 700 1222 Email: sales@truckcentredurban.co.za https://lnkd.in/dbxiSfA From Only R635,375.00. Installment Financial Portion R19,222.16. Deposit: 15%. Number of Installments: 42. Interest rate: based on customer profile, and linked to Prime. Total cost of credit: R807,330.72 (after deposit). Initiation fee: R279.28. Monthly service fee: R115.00. Balloon payment: R0.00. Terms and conditions apply, and finance is subject to approval from IVECO Capital, a product of Wesbank - a division of FirstRand Bank Ltd. An Authorised Financial Services and registered Credit Provider. NCRCP20. All prices quoted included VAT. Calculations based on 2019 STRALIS AS750S48TZP. Other models available. Offer valid while stocks last and subject to change without prior notice. Indicative installment starting from R19,222.16pm including VAT. The image shown is for illustration purpose only. Actual product may vary due to product enhancement. Terms and conditions apply in accordance with finance. *Credit is Subject to qualifying criteria. #TruckDeals #TruckSpecial #IVECOTruckSpecial #Stralis

Here are some quick updates from different companies inside the market (09/10/2024)📈. + Trent Ltd: has launched a new lab-grown diamond brand ‘Pome’ in Westside stores. + SpiceJet Limited: will add 10 planes to its fleet by 15 November. 7 aircrafts will be on lease, and 3 grounded planes will be re-added. + Tata Motors: global wholesales fell 11% to 3,04,189 units in the July-Sept quarter. Passenger vehicle sales fell 6% to 1,30,753 units. Commercial vehicle sales fell 19% to 86,133 units. + Ola Electric: has received a show cause notice from the Central Consumer Protection Authority for an alleged violation of consumer rights, misleading advertisement, and unfair trade practices. + Embassy REIT: has raised Rs 2,000 crore through a debt issue with a 7.95% interest rate. The money will be used to repay non-convertible debentures maturing in October. #Trent #Spicejet #TataMotors #OlaElectric #EmbassyREIT #QuickTakes #Updates #ManishKJha

Isuzu UK has launched a campaign urging double-cab buyers to order their new pickups now ahead of major tax changes this spring. From April 2025, double-cabs with a payload of one tonne or more will be treated as cars for the purposes of capital allowances, Benefit-in-Kind and some deductions from business profits. #AutumnBudget2024 #Doublecabpickups #IsuzuUK https://lnkd.in/egpm4qMk

KAL FREIGHT INC., a California-based trucking firm employing 600 drivers, filed for Chapter 11 bankruptcy, revealing staggering allegations of fraud and asset mismanagement. Daimler Truck Financial Services USA LLC claims Kal Freight fabricated titles for non-existent trailers, securing $16.8 million, and illegally transferred collateral worth $20 million to affiliates in Canada. Source: FreightWaves.