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The Department of Energy recently terminated $7.5 billion in grants for 223 projects that had been approved by the Biden administration.

“Overall, we expect modest contraction in our combined truckload fleet and growth in our asset-light segments," Covenant CEO David Parker said. 

The figures show that inflation continues to rise more slowly than many economists expected when President Donald Trump imposed sweeping tariffs in April.

Paccar expects to seize a bigger U.S. heavy-duty truck market share once the Section 232 import tariffs on medium- and heavy-duty trucks and parts go live Nov. 1.

USA Truck’s business model does not fit DSV’s vision for asset-light North American on-road operations, the company said in a report accompanying the most recent quarter’s results.

Tariffs have added costs that automakers mostly have not offset with higher prices, and they are reining in investments for EVs that are selling slowly as the government eliminates incentives.

Morita, 52, will take over as CEO on Jan. 1. He’s currently the company’s chief strategy officer and has been with Bridgestone for almost three decades.

A truck driver accused of being under the influence and causing a fiery crash that killed three people on a California freeway is in the country illegally, U.S. 91ÊÓƵland Security officials said.

GM and Stellantis will be forced to pay tariffs on some U.S.-made vehicles they import for sale in Canada, after the companies decided to reduce assembly-line work at Ontario factories.

Rivian Automotive agreed to pay $250 million to settle an investor lawsuit against the electric vehicle maker, saying it’s eager to put the legal wrangling behind it.