Volume 26 • Issue 10 • 10/31/2024 |
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IN THIS ISSUE
- BOARD NEWS & VIEWS: Adapting to the Ups and Downs of Our Industry by Jeremi Guditis
- A First of Many: Reflections on the UTA TWOK Fishing Event and Peterbilt Plant Tour by Ethan Nadolson
DEALER GROUP Individual Members of the Year Awards
- MEMBER SPOTLIGHT: Willie Boyle
- OPINION: Nuclear Verdicts Will Change Our Industry by Ricardo Rodriguez-Long
- A New Strategy for Financing
- WOMEN IN TRUCKING BLOG
- Used Truck Market Review & Forecast
- Industry News Briefs
- Electric News Briefs
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BOARD NEWS & VIEWS: Adapting to the Ups and Downs of Our Industry by Jeremi Guditis |
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Since entering the used truck industry in 2018, I have had the privilege of experiencing the dynamic nature of this market. It’s crucial to recognize that the used truck industry is subject to fluctuating market conditions, which present both opportunities and challenges for professionals in our field. I say opportunity because I believe that we can leverage the industry’s ups and downs to help us adapt our strategies and thrive in a highly competitive marketplace. |
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One of the most significant advantages of our industry is the diverse customer base that we have the pleasure of interacting with. Whether it be small businesses, independent truckers, fleet owners or other salespeople, this variety allows us to develop strong relationships and expand our network. Embracing these opportunities can help us rise above market fluctuations and outshine our competitors.
Read full article |
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A First of Many: Reflections on the UTA TWOK Fishing Event and Peterbilt Plant Tour by Ethan Nadolson |
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The First Annual UTA TWOK Fishing Event was more than just a chance to cast a line; it was an opportunity to connect with fellow UTA members, relax, and experience the side of our industry the UTA is all about.
Our trip began with an exclusive tour of the Peterbilt plant, a highlight that left those of us who attended with a renewed appreciation for the trucks that keep America moving. Walking through their facility, seeing each stage of assembly, and witnessing the attention to detail and commitment to quality craftsmanship was nothing short of inspiring. It was a privilege to get such an in-depth look at the work Peterbilt does, and the true sense of their family atmosphere was evident. I’m grateful to the Peterbilt team and Jeremi Guditis for making this opportunity possible.
After the tour, we traveled east to the Open Water Lodge at Lake Tawakoni, TX—a property well-deserving of its name, with sweeping views of open water that brought an instant sense of calm. The lodge was a true haven, and we were warmly welcomed with a level of hospitality that made us feel right at home. Upon arrival, we gathered for a thoughtfully curated charcuterie board, which was a conversation starter on its own and, in a word, delicious! This welcome set the tone for the evening, offering a casual, inviting space for everyone to relax and settle in. |
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DEALER GROUP: Individual Members of the Year Awards |
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The UTA Dealer Group is proud to honor individuals who stand out in our industry and embrace the UTA Code of Ethics.
There are 3 categories for these Awards: OEM Dealer • Non-OEM Dealer • Vendor Nominations have closed and we will announce the winner on Tuesday morning, November 14 at the 25th Annual UTA Convention! | |
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OEM Dealer Nominees
Val Breitag
Jason Cluck
Kyle Cowden
Allen Croft
Tucker Howse
Kelly Payne
Tim Popescu
Brian Ward |
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Non-OEM Dealer Nominees
Steve Bootsma
Kirk Gordon
Jason Landers
Vic Unger
Jason Wilson
Vendors
Charles Bowles
Ed Davis |
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Vendors Nominees
Charles Bowles
Ed Davis |
See nominees at UTA.org Click on photos or names to read more about them. |
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MEMBER SPOTLIGHT: Willie Boyle |
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Born on July 27, 1981, in the quiet town of Cascade, Iowa, Willie Boyle grew up in a family that revolved around hard work and strong community ties. As the youngest of six boys, his childhood was anything but quiet, yet full of lessons on resilience, loyalty, and the value of family. His parents, Slim and Tootsie Boyle, were the pillars of our family. |
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His father owned and operated a Massey Ferguson implement location, and growing up in that environment, he was instilled with a strong work ethic from an early age. Life in Cascade revolved around family, friends, and a deep-rooted connection to the land. As he watched his father work in the farming industry, he developed an appreciation for business and entrepreneurship, which would later shape his professional life.
Read full article |
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OPINION: Nuclear Verdicts Will Change Our Industry by Ricardo Rodriguez-Long |
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The trucking industry is essential to the logistics of our country, but it faces increasing risks due to rising operational costs and legal challenges. Among the most significant of these threats is the growing prevalence of "nuclear verdicts"—substantial jury awards in cases involving commercial truck accidents. |
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These verdicts have the potential to financially cripple trucking companies and impact manufacturers. As a result, many people are looking toward autonomous trucks as a solution to minimize accidents and, consequently, reduce their legal liabilities.
What is a Nuclear Verdict?
A nuclear verdict refers to exceptionally high damage awards in civil litigation, typically involving companies whose negligence has led to severe injuries or fatalities. These awards often exceed $10 million and serve as punitive measures against companies or manufacturers that juries perceive to have acted recklessly or negligently. Recently, an Alabama state jury issued a $160 million verdict against Daimler Truck North America in a product liability case involving a driver who developed quadriplegia after a 2022 rollover accident.
Read full article |
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The UTA's 25th Annual Convention is 13 Days Away! |
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A NEW STRATEGY FOR FINANCING |
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In the ever-changing market of used trucks, dealers and vendors alike need to work together to take advantage of the good times and weather the bad. How can dealerships in the UTA do this? Since COVID, one concern that keeps resurfacing is the need for additional resources for small and medium dealerships to secure financing. |
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Traditional financing options sometimes overact to a fast-fluctuating market and values of used trucks can be understated. One company that has decided to try something new in this regard is Integrity Group Finance, LLC, a sister company of Integrity Truck Sales.
Read full article |
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Women In Trucking Association Announces Finalists for 2024 Influential Woman in Trucking Award
by Women In Trucking Staff October 15, 2024 – The Women In Trucking Association (WIT) announced today three finalists for the 2024 Influential Woman in Trucking award, |
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sponsored by Daimler Truck North America (DTNA), the leading manufacturer of Class 6-8 commercial vehicles in North America. This award was developed in 2010 to recognize female leaders and to attract and advance women in the trucking industry. The award highlights the achievements of female role models and trailblazers in the trucking industry.
The 2024 Influential Woman in Trucking award finalists are: • Lisa Gonnerman, Vice President of Enterprise Services, TA Dedicated • Sheri Aaberg, Chief Operating Officer, Transport Enterprise Leasing • Tracy Rushing, Executive Director of Safety, RE Garrison Trucking, Inc.
Read full article |
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USED TRUCK MARKET REVIEW & FORECAST |
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Used Truck Market Struggles to Find Traction
While August’s preliminary Class 8 same dealer used truck retail sales volumes disappointed, September’s results provided a high-side surprise (11% m/m). Underlying fundamentals have not changed perceptibly since August. Spot freight and freight rates, along with still high but improving interest rates, appear to have been sufficient enough to entice truck buyers. Seasonality called for an increase of about 2% m/m. Preliminary auction activity declined from August (-60%), as did wholesale transactions (-18%). Altogether, sales fell 9.4% from August. Using history as a guide, October retail should gain about 4%. See full report |
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Summary
Auction volume and pricing decreased in September 2024. Retail volume ticked up slightly, with sleeper depreciation mild and daycab pricing stable. Class 8 Auction Update Sales volume at auctions in September dipped from August, which is unusual since September is frequently the highest-volume month of the year. Pricing dropped for a second consecutive month. Looking at late-model sleeper tractors, average pricing for our benchmark truck in September was: · Model year 2021: $47,947; $1,239 (2.5%) lower than August · Model year 2020: $36,318; $2,731 (7.0%) lower than August · Model year 2019: $24,096; $3,837 (13.7%) lower than August · Model year 2018: $17,934; $4,142 (18.8%) lower than August See full report |
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Used Truck & Trailer Values Continue Trending Downward Sandhills Global market reports cover used heavy-duty trucks, semitrailers, medium-duty trucks, and various other used vehicles and equipment in Sandhills marketplaces. According to the newest reports, which cover data through the end of September 2024, day cab and sleeper truck inventory levels are comparable, marking a historic first. Asking and auction values in this market continue trending down. The key metric in all of Sandhills’ market reports is the Sandhills Equipment Value Index (EVI). Buyers and sellers can use the information in the Sandhills EVI to monitor equipment, truck, and trailer markets and maximize returns on acquisition, liquidation, and related business decisions. See full report |
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National Truck Protection/Premium 2000 Features Employee Spotlights
Robert Boorstein – Dealer Performance Director (DPD)
Robert joined the NTP/Premium 2000 sales team in April, bringing five years of experience of managing F&I products and processes in the automotive industry. Those assets are being well-received by the NTP/Premium 2000 dealer partners throughout his Northeast territory. Rob is no stranger to the commercial truck business. As a third generation commercial driver, he understands and can relate to the industry with hands-on knowledge and experience. Robert joined the UTA this summer and is looking forward to his first convention in Orlando next month.
Scott Engle – Dealer Performance Director (DPD) Scott also joined the NTP/Premium 2000 team in April 2024 to manage our vast dealer network in Ohio and Michigan. He brings over 25 years of expertise in transportation and finance, including his role as President of EA Trucking. Through his experiences in management, sales, and as a dealership GM, Scott knows how to guide his dealer partners to optimize the sales process, enhance customer relations, and effectively drive profitable results. He’s looking forward to his first UTA Convention next month in Orlando. |
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Mack Trucks Awarded New Sourcewell Contract Mack Trucks, Press Release (October 1, 2024) — Mack Trucks has been awarded a new contract with Sourcewell, a government service cooperative offering competitive pricing and volume discounts on Mack® trucks to its more than 50,000 members. Government, education and nonprofit agencies partnering with Sourcewell can purchase Mack’s Class 6-8 vehicles — the Mack Anthem®, Mack Granite®, Mack LR, Mack LR Electric, Mack MD Series, Mack MD Electric, Mack Pinnacle™ and Mack TerraPro®models.
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Finalists Announced for 2024 Transition Trucking: Driving for Excellence Award
Transition Trucking (October 1, 2024) — Finalists for the 9th annual “Transition Trucking: Driving for Excellence” award were recently announced by the U.S. Chamber of Commerce Foundation’s Hiring Our Heroes program, Kenworth Truck Company and Fastport. This prestigious award honors military veterans who have made an outstanding transition into the commercial trucking industry. Read more
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Transport Enterprise Leasing Co-founders Jud Alexander (left) and Doug Carmichael earlier this year.
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Transport Enterprise Leasing Marks 20 Years in Business Transport Enterprise Leasing, Press Release (October 9, 2024) — Transport Enterprise Leasing (TEL) is celebrating its 20th anniversary with another year of growth, said Co-Founder and President Jud Alexander. The business launched in September 2004 with a focus on used truck sales. The company now operates four divisions providing commercial truck leasing, trailer leasing, equipment sales and remarketing to owner-operators and fleets across country. Read full press release
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Fifth-Generation Cascadia Gets Big Safety, Business Tech Updates
Commercial Carrier Journal, Jason Cannon (October 17, 2024) — The Gen5 Cascadia gets a new hood and grille design, a redesigned A-pillar deflector, three-piece front wheel well closeouts, a hood-to-bumper seal, and new bumper air ducts along with factory-fit mirror camera system. Since its 2007 debut, Freightliner has retailed more than 1 million of its Cascadia flagship on-highway tractors, propelling the company to a leading 40%-plus marketshare. Read more |
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ZF board of management member Peter Laier (above) describes the supplier's new hybrid transmission as a bridging technology designed to enable pure electric driving capabilities for hybrid and plug-in hybrid commercial vehicles. Source: Clean Trucking
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ZF's New Hybrid Transmission Is A "Bridging Technology," Says Board Member
Commercial Carrier Journal (September 22, 2024) — ZF came to IAA 2024 in Hannover, Germany with a message: it's well prepared for commercial trucking's transformation towards zero emissions. One of the best examples the German supplier had on display was its new hybrid transmission. Called the TraxOn 2 hybrid transmission, it allows for pure electric driving for both hybrid and plug-in hybrid commercial vehicles. Read more |
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Volvo Trucks Completes Delivery of 70 Volvo VNR Electric Trucks as Part of $21.5M Grant Program Volvo Trucks, Press Release (September 24, 2024) — Volvo Trucks North America has successfully delivered 70 Volvo VNR Electric trucks as part of a $21.5M funding initiative supported by the U.S. Environmental Protection Agency (EPA) and the South Coast Air Quality Management District (South Coast AQMD). The project, named “SWITCH-ON,” has deployed these zero-tailpipe emission trucks to several fleets across Southern California for regional freight distribution and drayage. Read full press release
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Used Truck Association
Impact Association Management
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Phone: 877-438-7882 (877-Gets-UTA)
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