THE LATEST

Tesla CEO Elon Musk said the company will accelerate the launch of less expensive EV models after its profits and revenue under performed for the third consecutive quarter. “The EV adoption rate globally is under pressure, and a lot of…

Heartland Express said a prolonged period of soft freight demand, excess truck capacity and cost inflation were the reasons for a $15.1 million net loss in the 2024 first quarter. On Tuesday, the North Liberty, Iowa-based truckload carrier reported a…

Open-deck transportation marketplace EXO Freight closed its Chattanooga, Tennessee, office Tuesday, laying off 19 employees, including a few from its spot brokerage team in Royal Oak, Michigan, who were mainly operations-focused, co-founder and CEO Kurtis Tryber told FreightWaves. Tryber said…

(GIF: GIPHY) In 2021 it seemed like there was a new freight brokerage opening daily. When you can get away with insane margins and are making money hand over fist, it would be a mistake not to open a brokerage.…

Ryder’s quarterly earnings showed signs of the weak truck market, but its emphasis on other segments of the company besides its flagship fleet rental activities continued to bear fruit. The bottom line is that Ryder’s non-GAAP earnings per share of…

WASHINGTON — New trucking industry-backed research finds renewable diesel (RD) fuel to be significantly less costly and more operationally effective than transitioning to battery-powered trucks. Electric vehicle purchases and electric infrastructure will cost the long-haul sector more than $1 trillion…

Learn more at SONAR.FreightWaves.com The post Weekly Fuel Report: April 23, 2024 appeared first on FreightWaves.

Forward Air has named former Ceva Logistics unit head Shawn Stewart as its new CEO effective this coming Sunday. The announcement follows the ouster of former leader Tom Schmitt, which orchestrated a controversial merger with Omni Logistics that finally closed…

Universal Transit, a groundbreaking company founded by three innovative friends in New Jersey in 2020, is on a mission to revolutionize the auto transportation sector.  With aspirations to raise $1.2 million through regulation crowdfunding (Reg CF) on Republic, this startup…

Commercial vehicle parking and storage provider Semi-Stow announced Tuesday it has rebranded itself to Outpost and has raised $12.5 million in Series A funding led by GreenPoint Partners with participation from Speedwagon Capital Partners. The United States currently has approximately…