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16 reasons your trucking business won’t sell – Fleet Owner

In profound ways the trucking industry is being affected and in serious ways too by mergers and acquisitions. Many persons who are in the industry have heard or seen people who have knocked on their doors whether they are interested in selling or not interested in selling their trucks. It is important that one understands the life cycle of his business in order to know when is the right time to sell a business or when it is the wrong time to do so. The author has outlined 16 tips in the blog that shows when a trucking business would not likely be sold. One reason is when the trucking business lacks a growth story. Many buyers shy away from these businesses that are stagnant that is why to sell you must have a compelling story of growth to tell them. Another drawback to not selling the trucking business is that it is dependent on the owner. People who want to get paid for their trucking business should get out of the way of the business. When owners depend much on themselves in the trucking business, they create an unnecessary amount of risk and buyers would be reluctant to consider such a business. Other suggestions are outlined in the blog.

Key Takeaways:

Hello Trouble...
  • Buyers will compete to purchase your business if you are able to present them with a growth narrative that peaks their interest.
  • Your employees job requirements and what you expect from them should be clearly spelled out.
  • You should know the value of your business be getting a valuation from a third party in order to insure your asking price is reasonable.

“No matter the stage of your company’s life cycle, it is important for you to understand what may help or hinder your ability to sell your business when the time is right.”

Read more: https://www.fleetowner.com/ideaxchange/16-reasons-your-trucking-business-won-t-sell

Behind Germany’s first stretch of electric highway – Fleet Owner

Munich-based engineering has produced Germany’s first stretch of electric highway on the A5 Autobahn. An active pantograph transmits energy from the overhead contact lines to the electric motor powering the eHighway truck. The remaining sections of road have a hybrid drive. In 2016 similar designs of electric highways have been tested in Sweden and the United States. The Sweden trials use two diesel hybrid vehicles. In Southern California, the tests of the electric highway system aims to create an option to reduce local air pollution with this technology.

Key Takeaways:

Hello Trouble...
  • An electric-highway of roughly six miles long was recently opened near Frankfurt, Germany.
  • The pantograph is the primary piece that makes the electric-highway run by transmitting energy to the vehicles.
  • This type of e-highway is being looked at in other places like southern California as well.

“According to Siemen’s eHighway brochure, the key innovation is the active pantograph, capable of connecting while driving at any highway speed, estimating more than 80% efficiency level with overhead contact lines.”

Read more: https://www.fleetowner.com/running-green/behind-germany-s-first-stretch-electric-highway

Class 8 backlog ‘remains jam-packed’ as freight growth stagnates: ACT – Fleet Owner

The class 8 metrics for April were seen to align with the expectations that were placed on them. But some cancellations were noted in that month although it must be noted that cancellations have been on a low trend in recent times. The same story that has been in the news and that are being reported are also seen in data, the research president of ACT, Kenny Vieth, says. He continues that the story is one that speaks of current demand strength and one of having the backlog being jam-packed with retail sales being robust highlighting the fact that there has been a marked improvement in the follow-throughs for the orders that were made in the latter part of 2018. The second story, he notes, highlights the softening of freight metrics, with robust build and sales serving as its pivot, while the story tends to end with a record breaking new class 8 inventory. The summary of all the stories so far in the data is that freight growth is on a path of stagnation while the population growth of class 8 is on a course of acceleration. The medium duty markets have not disappointed, he further said, as they exceeded expectations for April.

Key Takeaways:

Hello Trouble...
  • The class 8 metrics for the month of April were in harmony with the expectations in the industry except for some cases where there were cancellations.
  • The story that has been gleamed from data has been seen to be the same thing in recent times and it speaks of demand strength.
  • The orders that were booked in the last half of 2018 had good follow-throughs although the backlog was seen to be jam-packed.

““The second story starts with those softening freight metrics, pivots on robust build and sales, and ends with the reality of a record new Class 8 inventory. In short, freight growth is stagnating, even as Class 8 population growth is accelerating.””

Read more: https://www.fleetowner.com/economics/class-8-backlog-remains-jam-packed-freight-growth-stagnates-act

Keep Truck Replacement Schedules Flexible

When a fleet manager is savvy and knows his onions, he understands why it is important his fleet needs to be operated on set schedules and why he has to utilize standardized best practices. Yet, many people wonder whether the best path to follow would be a truck schedule that is set in stone. Many experts might disagree on several things but they agree on the fact that fleet managers must have flexible replacement schedules for fleets. A fleet consultant states that sometimes having a formal fleet cycle of replacement is important for cutting down on costs such as variable costs, but sometimes this has to be approached on a vehicle-by-vehicle basis. When vehicles need to be replaced outside of a set policy, some of the factors that need to be taken into consideration are the habit of manufacturers to move up build dates, engine failures that occur early and are catastrophic, as well as the current market conditions. When a change occurs in the market, the author states that it is essential that fleet managers should be ready to capitalize on it. Although fleet managers understand the need to be flexible in scheduling fleets, they are constrained by the time factor involved and that limits them.

Key Takeaways:

Hello Trouble...
  • A fleet manager who knows the business very well and is a savvy one knows how to set schedules and utilize best practices in the industry.
  • People often wonder if a set-in-stone truck replacement schedule is essential in the industry and the author notes that although everyone is different having one is a must.
  • Sometimes having a cycle policy that is formalized is good in the fleet industry but other times things have to be considered on a vehicle-by-vehicle basis.

“Truck fleets often see the need to add or remove vehicles due to seasonal operating parameters, business growth cycles, or unexpected events.”

Read more: https://www.worktruckonline.com/332093/keep-truck-replacement-schedules-flexible

New service to help fleets save up to 30% on maintenance costs – Fleet World

Fuel card services has announced a new service and the service is already reaping benefits for fleets because it is said to be helping fleets save up to 30 percent on parts and labor. This service is part of the company’s aim of delivering a solution that is all encompassing and all embracing for complete fleet management. Other benefits of the service is that it gives fleet managers direct access to a network of nationwide garages and it also offers savings that are highly competitive on servicing of fleets, maintenance work on fleets and trucks, repairs and also MOTs. The service uses discount rates that are pre-negotiated with fleet managers. Apart from the savings of 30 percent on parts and labor, the service also saves on a far reaching range of servicing work and maintenance work for fleet managers and drivers along with the replacement or repairs of tires and this benefits come without any joining fee, without any minimum contract to be signed, and also without any stipulated minimum number of vehicles. All costing and approval for costs are carried out online using an online system which is secure and these costs are validated using metrics like manufacturer data. Each work is approved with respect to the garage it is coming from.

Key Takeaways:

Hello Trouble...
  • The pay-as-you-go solution is beneficial to fleet managers because it provides them with a garage network that is nationwide with competitive savings on fleet maintenance.
  • The service does not require fleet managers to pay a joining fee, neither is there a minimum contract or a minimum number set for the number of vehicles.
  • Some of the benefits that the service offers to users is that they get to receive invoices for consolidated fuel and maintenance as well as view their histories online.

“Costs are approved online, using a secure online system. Costings are validated by manufacturer data and work is approved directly with each garage. Users even receive calendar alerts so they don’t miss important servicing and MOT deadlines.”

Read more: https://fleetworld.co.uk/new-service-to-help-fleets-save-up-to-30-on-maintenance-costs/

Digital Freight Brokers Turn Physical With Truck Equipment Pools – Wall Street Journal

Digital freight marketplaces are becoming more innovative because apart from seeking to connect shippers and truckers online they now provide physical operations that involves helping cargo carriers to move their loads to any destination. Some of the companies that recently made a launch of trailer fleets are startups like Convoy for fleets and also Uber Technologies’ Freight division and shippers can use these services to preload their trucks with goods in order to speed up the process of cargo transfer for both their drivers and also the shippers who are on their network. Another company that is active in this field is J.B. Hunt Transport Services Inc that is testing a drop and hook service that gives drivers that ability to hitch their vehicles to trailers that are already filled using the company’s digital platform for carrying out brokerages. This service is not yet out but will be launched at the summer. This sector has been known to be using apps, algorithms and machine learning to arrange between shippers and trucks but now that they are doing physical operations, it represents a notable shift in their operations. This shift is because many investors are investing heavily on brokerage startups that are focused on technology and traditional transport companies are also investing into building their own digital freight platforms.

Key Takeaways:

Hello Trouble...
  • The service allows truck drivers to pick up pre-loaded trailers rather than wait for hours for workers to load and unload cargo.
  • The service most benefits independent carriers and smaller operations in an industry in which 96% of businesses operate no more than six trucks.
  • The change coincides with other online businesses blurring the distinction between physical and digital, such as Amazon and Wayfair opening bricks and mortar stores.

“Freight-matching startups Convoy and Uber Technologies Inc.’s Freight division recently launched fleets of trailers that shippers can preload with goods to speed up cargo transfers for drivers and shippers on their networks.”

Read more: https://www.wsj.com/articles/digital-freight-brokers-turn-physical-with-truck-equipment-pools-11557950847

On the Spot: Hyliion’s Hybrid System On the Road

Hyliion, like all of those in the vehicle and transport industries, is concerned with fuel economy. Lately, the company has been creating systems to improve the fuel economy of its class 8 tractors. The tractors can store kinesthetic energy that the vehicle puts out, for example, when going downhill, which is then stored in a battery for later use. Another novel change implemented by Hyliion has been the addition of an electric motor to the non-driven axel of the vehicle’s 6×2 setup. This motor provides the vehicle with a burst of energy when accelerating, or when going uphill, thereby creating greater fuel efficiency.

Key Takeaways:

Hello Trouble...
  • Hyliion has developed a unique way to improve the fuel economy for it’s class 8 tractors.
  • Hyliion’s new system adds an electric motor to the tractor’s non-driven axel on a 6×2 setup.
  • The motor gives the vehicle a power boost when either accelerating or going uphill, thereby improving efficiency.

“Equipment Editor Jim Park drove a loaded Freightliner Cascadia with Hyliion’s system in a demonstration and gives his intial thoughts on how it feels.”

Read more: https://www.truckinginfo.com/331755/on-the-spot-hyliions-hybrid-system-on-the-road

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