Volume 26 • Issue 11 • 11/26/2024 |
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IN THIS ISSUE
- BOARD NEWS & VIEWS: College Football and the Trucking Industry by Bo Johnson
- Your 2025 UTA Board of Directors
- The 2024 UTA Marvin F. Gordon Lifetime Achievement Award Winner Val Breitag
- DEALER GROUP: Individual Members of the Year Awards
- The UTA Needs You! by Craig Kendall
- OPINION: Unleashing the Power of Personal Branding for Your Success by Ricardo Rodriguez-Long
- Scholarship Recipients Announced on UTA Website
- Used Truck Market Review & Forecast
- Industry News Briefs
- Electric News Briefs
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BOARD NEWS & VIEW: College Football and the Trucking Industry by Bo Johnson |
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The 2024 college football season and the trucking industry could both be described as a roller-coaster rides, marked by unexpected twists and turns. This is especially true when considering truckload rates. Both sectors entered the year with a sense of optimism. College football teams, fueled by offseason recruiting and coaching changes, were poised for greatness. Similarly, the trucking industry benefited from a strong economy, increased consumer demand, and the hope of increased freight rates. So, at the beginning of 2024, both football fans and trucking companies were optimistic about the future. Read More |
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Congratulations to VAL BREITAG, Recipient of the UTA Marvin F. Gordon Lifetime Achievement Award |
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Val has been with The Larson Group for 35 years and has such an interesting history you'll want to read more about him on the UTA website. |
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DEALER GROUP: Individual Members of the Year Awards |
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The UTA Dealer Group Announces the Individual Member of the Year Awards at the 25th Annual UTA Convention Congratulations! Go to the website and click on each
winner's photo to read about them. |
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STEVE BOOTSMA
Non-OEM Dealer
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The UTA Needs You by Craig Kendall |
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The 2024 UTA Convention was a blast. It was a fantastic networking event that took place in a great facility, and helped educate us all on timely topics. The Gaylord Palms in Orlando is a world-class convention space that any person would be lucky to attend.
While attending, I was struck by how many people it takes to make this association run and operate efficiently. The many different committees that support the association are constantly looking for new voices and opinions. Read more and get involved now! |
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OPINION: Unleashing the Power of Personal Branding for Your Success by Ricardo Rodriguez-Long |
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In today's fiercely competitive landscape—dominated not only by peers but also by technology and automation—it's crucial to carve out a unique identity for yourself. The notion of branding has evolved dramatically in recent years. Branding is no longer just the name or logo of your company, but rather an essential part of who you are as an individual. |
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Your brand is your unique promise to your clients—it encapsulates your values, skills, and the unique attributes that set you apart from the crowd. Think of yourself as a company. Building your brand starts with identifying your core values. These values will guide everything you do, including how you communicate with your clients. They may include attributes like integrity and creativity, or you may be driven more by a sense of family, or problem-solving. Read full article |
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Stay Tuned for Next Month's Convention Wrap-Up |
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2024 SCHOLARSHIP RECIPIENTS ANNOUNCED |
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Each year at the annual UTA convention the recipients of the scholarships are publicly announced. To see this year's 12 outstanding individuals, go to the Foundation page on the UTA website. |
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USED TRUCK MARKET REVIEW & FORECAST |
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Used Truck Market Results Mixed in October
Following the September Flash’s high-side surprise (+11% m/m), final Class 8 same dealer used truck retail sales volumes declined 6.2%. We advised that the variation in participants could and did lead to different results. October Class 8 same dealer used truck retail sales volume growth (+29% m/m) appears to be shaping up for a similar scenario. Seasonality called for a decrease of about 3% m/m. Preliminary auction activity declined from September (-26%) while wholesale transactions performed similarly to retail (+32%). Combined, sales slipped 2.7% m/m. History tells us retail should drop nearly 17%. See full report |
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Summary
The auction market perked back up in October 2024, with volume increasing and pricing stable. Retail conditions were essentially unchanged from September.
Class 8 Auction Update
Sales volume picked back up in October, making up for September’s lukewarm result. Pricing was generally stable, with any swings in the averages below due to the relatively small sample size of our benchmark group.
Looking at late-model sleeper tractors, average pricing for our benchmark truck in October was:
· Model year 2021: $44,857; $3,090 (6.4%) lower than September
· Model year 2020: $35,825; $493 (1.4%) lower than September
· Model year 2019: $28,302; $4,206 (17.5%) higher than September
· Model year 2018: $18,506; $572 (3.2%) higher than September See full report |
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Used Day Cab Inventory Exceeds Sleeper Truck Inventory in Historic First 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 covering data through the end of October 2024, used day cab truck inventory surpassed sleeper truck inventory for the first time while asking and auction values 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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Fyda Freightliner Celebrating 70-Year Anniversary
Trucks, Parts, Service Staff (October 18, 2024) — Fyda Freightliner is celebrating its 70-year anniversary this year. Since opening its doors in 1954, Fyda Freightliner has grown from a single location to a network of seven dealerships across Ohio, Pennsylvania and Kentucky, all while staying true to the company’s core belief: "Where the customer is first."
Read more |
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UTA Roundtable Shares How 'Digital Ecosystem' Can Create Leads and Drive Sales Potential Lucas Deal, Trucks, Parts, Service Chief Editor (November 14, 2024) — In the used truck industry, marketing has always been about getting your trucks seen. Making sure they are visible where buyers are. For a long time, that was done through listing periodicals and websites. And while those resources remain vital to any used truck marketing strategy, they’re no longer a dealer’s only option. Read more
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CARB Rules Seen as Hindrance to Obtaining New Diesel Vehicles Eric Miller, Senior Reporter, Transport Topics (November 14, 2024) —The sale of zero-emission vehicles in California over the past two years has been better than anticipated, but the regulatory emphasis on transitioning fleets from diesel to electric has left some of the state’s large truck dealers with an inability to obtain new diesel trucks to sell to carriers. Read more
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Tesla, Rivian Drop on Report Trump Wants to End EV Credit
Richard Clough, Bloomberg News (November 14, 2024) — U.S. auto stocks and Asian battery makers fell after Reuters reported President-elect Donald Trump plans to eliminate a key consumer tax credit aimed at boosting electric-vehicle adoption. Trump’s transition team has been discussing ending the $7,500 subsidy as part of a broader tax reform effort, Reuters said, citing unidentified sources with direct knowledge of the matter. Read more |
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