A deal for GM to sell its medium-duty truck business to Navistar has fallen through for the moment. Tough economic conditions likely kept the companies from reaching an agreement. Other auto-industry deals have also faltered due to the economy.
US DOT established a 1-year pilot program in September 2007 to allow 100 Mexican trucking firms and 100 US trucking firms access to conduct cross-border deliveries in keeping with NAFTA efficiency aims. Independent truckers have fought the program in court from the outset. US DOT just extended the program 2 years to encourage participation.
Trucking is seeing minor growth in freight volumes following a reduction in shipping capacity brought on by tough economic times. Poor US economy will keep freight down because of sluggish retail sales, but shippers are paying higher prices and/or fuel surcharges now.
Despite major banks and automakers scaling back or exiting leasing, NVLA says the leasing industry is still healthy. They cite the growing need - and opportunities - for independent vehicle lessors to fill the void.
Certified used-car sales are up 2.8% year-to-date but some worry if recent cutbacks in factory leasing programs will affect the supply of certification-eligible vehicles. Automakers remain optimistic, and industry experts say there are enough quality vehicles available to fill the void left by fewer off-lease returns.