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Getty image depicting reduced jury award

A state judge of the Philadelphia Court of Common Pleas in March erased a “clearly inappropriate” $25 million jury verdict for punitive damages in a 2019 truck-involved accident lawsuit.

Tesla Inc. recalled 3,878 Cybertruck pickups to rework or replace accelerator pedals that can dislodge and cause the vehicle to unintentionally accelerate, increasing risk of a crash.

Shares of truck maker Volvo AB dropped as much as 5.9% in Stockholm on news that China’s Zhejiang Geely Holding Group had sold the entirety of its Class B shares, worth about $1.3 billion.

A waning electric vehicle market is dragging down shares of companies making chips for automobiles, with their limited exposure to AI excluding them from a broader rally. 

The federal government awarded Fort Worth, Texas, $2 million to test weather sensors on autonomous freight truck routes.

Although FMCSA's efforts to streamline the driver verification process are helping fleets reduce risk via the Drug & Alcohol Clearinghouse, it's also reduced the pool of qualified drivers.

Across the major logistics market segments, 2023 brought a spate of challenges including compressed margins, rising labor costs and inflationary pressures, ensuring a down year for many.

2023 was a generally downtrodden year for 3PLs, with plummeting transportation rates and shippers focused on right-sizing inventories and reducing logistics costs.

Great Dane plant

U.S. trailer orders for March declined on both an annual and monthly basis, ACT Research reported.

Julie Su

Capitol Hill Republicans Press Acting Labor Secretary Su

During a U.S. House subcommittee hearing with acting Labor Secretary Julie Su on April 17, a Republican lawmaker on the panel raised concerns about a federal employee classification rule.

Trucks parked at loading dock

When Will Freight Market Conditions Improve?

Stubbornly weak freight market conditions have placed financial strain on 3PLs in recent years with an oversupply of truck capacity driving down rates and squeezing brokers’ margins.

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NTDC 2024

Complete coverage of the 2024 National Truck Driving Championships and Step Van Driving Championships, as well as the state events that served as qualifiers.

Amazon fulfillment center

A freight market recession, compressed broker margins and major acquisitions in 2023 have markedly altered the landscape of North America’s largest third-party logistics providers.

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Week of Apr 15
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  • 2024 Top 100 Logistics

    A unique ranking of the third-party logistics companies in North America includes listings of the largest freight brokerage firms, freight forwarders, warehouse operators and dedicated contract carriage service providers.

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    Key data on revenue and freight assets for the 50 largest global freight companies.

  • 2023 Top 100 Private Carriers Cover

    Beverage and food service fleets dominate the top spots in this comprehensive rundown of private carriers in North America, ranked by number of tractors.

  • 2023 Top 100 For-Hire

    Annual rankings provide an indispensable overview of the largest for-hire carriers in North America, along with timely analysis of trends shaping the industry.

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Wes Moore

The governor of Maryland in pointed remarks challenged federal lawmakers to see for themselves the devastation wrought by the collapse of the Francis Scott Key Bridge.

A diesel pump

The global diesel market is deteriorating, a concerning economic signal and food for thought for bullish oil traders.

Wawa EV charging

Automakers may be pumping the brakes on EV production in the U.S., but charging challenges — traditionally a major hurdle to adoption — are vanishing at a rapid clip.