Tight equipment supply at Edmonton auction
EDMONTON, AB - Ritchie Bros.' Edmonton auction house sold $553 million in equipment this year, dropping the hammer last week on the sixth and final sale of 2017. "Online and onsite bidders were eager to snatch up equipment for winter work, resulting in strong pricing both days of the auction last week," said Trent Vandenberghe, sales director. "We continue to see relatively tight equipment supply as many companies are hanging on to surplus equipment in anticipation of upcoming projects. This continues to result in higher demand at our auctions and an uptick in pricing across many equipment categories." More than 4,500 pieces of equipment and trucks were sold for $66 million at the most recent auction, which attracted more than 7,850 bidders. About 5,850 of the bidders were online, and secured 71% of the available equipment.
Volvo expands in Mexico, predicts growing Nam market
GUADALAJARA, MX - Volvo's "shape of trucks to come" has come to Mexico, with the official unveiling of the VNL long-haul tractor, VNR regional hauler, and an expanded VAH auto hauler lineup. It's a significant expansion of Volvo offerings available in the country, which had previously been limited to the VNL long-haul trucks. "Mexico is a very important market for us globally," said Magnus Koeck, vice president - marketing and brand management, comparing the market's size to that of Canada, with 25,000 to 27,000 in annual sales placing Mexico among the largest truck markets in the world. Volvo now has a presence in 140 countries overall, with manufacturing capabilities on every continent. The North American models will be built in Dublin, Virginia. There will be more trucks to manufacture, too. Volvo now projects North America's Class 8 market to reach 260,000 units next year, compared to 235,000 in 2017. That could even be a conservative number, Koeck added, noting that some analysts are predicting as many as 309,000 units. "We will see if that will hold." Buyers around Mexico City will also have easier access to the trucks, through Grupo Alden's addition to the dealership network following a US $6 million investment. Volvo now has 43 dealer locations in Mexico overall.
NACV Show heralded as ‘big hit’
ATLANTA, GA -- The inaugural North American Commercial Vehicle Show (NACV Show) is being heralded as a success after drawing thousands of unique visitors during the four-day event in Atlanta, Georgia. Co-organized by Hannover Fairs USA and Newcom, the September 25-28 event hosted 439 exhibitors and featured 370,000 square feet of sold-out exhibition space at the Georgia World Congress Center. "The NACV Show's B2B concept was a real hit with our attendees who gave us high marks for launching such a global showcase," said Larry Turner, president and Chief Executive Officer of Hannover Fairs USA. "We are happy with the results," added Joe Glionna, president of Newcom, which also publishes Today's Trucking among other titles. "A lot of things worked ...
Canada truck market ‘particularly robust’: FTR
BLOOMINGTON, IN - Class 8 truck sales continued to recover in September, reaching 22,100 units overall. That's up 7% compared to the previous month, and 62% above a year ago. Those order volumes meet expectations, and Canadian orders were "particularly robust" as fleets benefit from a strong economy, say the analysts at FTR. North American Class 8 orders reached 239,000 units in the past 12 months. "The recovery in the Class 8 market is building, and we saw that with the orders through the summer. Order totals never got that low and followed cyclical trends," said Don Ake, vice president - commercial vehicles at FTR.
Class 8 truck sales continue surge
BLOOMINGTON, IN - North American Class 8 truck orders this August were 50% better than a year ago, and 14% above July totals, analysts at FTR report. "Orders were up for the third straight month, and it looks like May's 16,500 orders will be the low point for the year. Orders are expected to increase in September, leading into robust order activity in Q4," said Don Ake, FTR's vice president of commercial vehicles. The numbers are in keeping with expectations and should help to fill remaining 2017 build slots, FTR concludes. It's the best August order performance since 2014. In the past 12 months, North American Class 8 orders have reached 231,000 units.