Commercial vehicle supplier Meritor Inc. reported increased revenue and net income in its fiscal first quarter as well as new significant contracts with leading trailer makers.

LAS VEGAS — Fleet executives are standardizing parts ordering and maintenance procedures as they deal with truck equipment that is increasingly complex and costly.

LAS VEGAS — Truck makers are wrestling with how to invest in automation, electrification and traditional powertrains — all at once. Additionally, more trailers will use telematics to relay diagnostic information and secure parts while new relationships will form between suppliers and technology startups, according to experts at the Heavy Duty Aftermarket Dialogue.

The average used Class 8 in December was slightly older, had more mileage and sold for 9% more compared with a year earlier, as sales were flat, according to ACT Research Co.

The U.S. average retail price of diesel dropped 1.1 cents to $2.965 a gallon for the week of Jan. 21, despite an increase in crude oil prices to $53 per barrel, or $3 higher than a week before.

Volvo Group Venture Capital AB, a subsidiary of Volvo Group, announced it has invested an undisclosed amount in Momentum Dynamics Inc., which provides high-power wireless charging systems for the automotive and transportation industries.

U.S. Class 8 retail sales rose 16.7% to 26,083 in December to cap the fourth-highest sales year ever as fleets replaced older trucks and expanded amid tight capacity, strong freight demand and high rates.

U.S. trailer orders plummeted to 27,800 units in December, off 40% compared with 45,802 a year earlier, reflecting lengthy backlogs and suddenly cautious fleets, ACT Research Co. reported.

Single-digit increases defined U.S. retail sales of medium-duty trucks in December and for the full year compared with year-ago periods, WardsAuto.com reported.

LAS VEGAS — Nikola Motor Co. founder and CEO Trevor Milton said two key customers — private fleet Anheuser-Busch Cos. and truckload carrier U.S. Xpress Enterprises — will begin fleet tests of Nikola’s zero-emisssions hydrogen-electric Class 8 trucks by the end of the year, as the first shoots of the necessary fueling infrastructure are emerging in Phoenix.