OEM News Updates

First-quarter results varied among suppliers to U.S. commercial vehicle manufacturers for the period ended March 31.

Three of the world’s largest heavy-duty truck makers reported profitable financial results last week after also benefiting from their other lines of businesses and some insulation from the North American market.

Truck maker Greenkraft Inc. announced plans to expand to a bigger factory in 2017 and also introduce a new line of alternative fuel Classes 6-7 cab-forward trucks called the G3 and G4, respectively, it said.

Three of the world’s largest heavy-duty truck makers remained profitable in an anemic 2016, with fourth-quarter results revealing that European sales outpaced the North American market.

Sales of previously owned U.S. homes declined more than forecast in December, data from the National Association of Realtors data showed Jan. 24. Still, sales for the full year were the strongest since 2006.

Purchases of new U.S. homes increased in November to the second-fastest pace in almost nine years as the beginning of a spike in mortgage rates persuaded buyers to quickly sign contracts.

Sales of previously owned U.S. homes unexpectedly climbed in October to the highest level since February 2007, a sign of momentum in the housing market a month before a jump in borrowing costs, National Association of Realtors data showed Nov. 22.

Truck and trailer makers are usually profitable during the second quarter, but original equipment manufacturers and their largest suppliers reported they had to cope with falling sales year-over-year.

Volkswagen AG’s recent legal settlement with states, territories and tribes for cheating on pollution tests requires it to pay $2.7 billion into an “environmental remediation fund" aimed at cleaning up the damage its cars have done, which could mean grants for new school buses, upgraded port facilities and cleaner tractor-trailers.