EnRoute
Headlines From The Vehicle Renting and Leasing Industry
Wednesday, April 11, 2007
Top Stories
The Internal Revenue Service (IRS) has confirmed that auxiliary power unit (APU) packages installed on tractors within six months of the tractors being placed into service would be subject to the 12 percent federal excise tax on heavy vehicles.FULL STORY
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Starting in 2010, owners of diesel-powered cars and trucks may have to fill a supplementary tank with urea. FULL STORY
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The Department of Justice will not oppose a proposal by the National Association of Small Trucking Companies and Bell & Co. to conduct an operational and financial survey of small-and medium-sized trucking companies. FULL STORY
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One of the 127 initiatives that New York City Mayor Michael Bloomberg is considering is a fee for cars and trucks that operate in Manhattan south of 86th Street. FULL STORY
Technology Trends
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Hendrickson Bumper and Trim has introduced the AERO CLAD bumper which is fitted for Volvo VNL trucks. FULL STORY
Corcentric has signed an agreement to facilitate Hino Trucks' Mega Fleet parts program throughout its truck dealer network. FULL STORY
Carrier Transicold is offering two aftermarket chrome kits for its ComfortPro APUs and its refrigeration units. FULL STORY
Volvo Truck has introduced the VHD 430, a VHD vocational truck and tractor that is now available with factory-installed 42-inch sleeper cab. FULL STORY
Briefly
Enterprise Rent-A-Truck has been chosen as a preferred vehicle rental supplier to the Government Services Administration Fleet, one of the U.S. government’s largest non-tactical federal fleets. . .Penske Truck Leasing has overhauled its commercial vehicle resale website, www.penskeusedtrucks.com, offering easier navigation and more information. . .Kenworth Truck Company will extend their $1,000 rebate program on qualifying new sleeper truck purchases with Landstar System, Inc. through 2007. . .Bridgestone Firestone North American Tire, LLC (BFNT) and Ryder System have renewed their long-term agreement to supply Ryder’s new tire needs, while Bandag, Inc. will provide Ryder with retreading services. . .Hertz is now offering hourly car rentals at their three Manhattan locations with no fuel charge, no application fees and no fees for canceling or changing a reservation. . .Manheim Auto Auction opened a new $38 million state-of-the-art, two-story, environmentally sensitive reconditioning facility in Manheim, Pennsylvania. . .Utility Trailer recently participated in the Cascade Sierra Solutions Open House, which showcased more than 40 fuel-saving equipment manufacturers. . .Eaton Corp. is buying the fuel components division of Saturn Electronics & Engineering for an undisclosed sum. . .Goodyear Tire & Rubber Co. is urging everyone to show they care about their tires during National Tire Safety Week, April 22-28. “A Guide to Tire Safety” can be requested at www.goodyeartires.com. . .Maxon Lift Corp. broke ground on a new state-of-the-art manufacturing facility in Santa Fe Springs, CA. . .R.L. Polk & Co. released the Vehicle Launch Program that will allow OEMs and dealers to analyze the market for new vehicles more effectively. . .To read more news about TRALA members, please click here.
People on the Move
Horton Inc. has appointed Joe Herzog as vice president of engineering for all Horton products. . .GE Capital Solutions announced the following top leadership appointments for its Fleet Services business, upon completion of it merger with PHH Arval: George J. Kilroy, president and chief executive officer of PHH Arval, will become chairman of the merged business that will operate as GE Capital Solutions, Fleet Services, and Bob Mitchell, president and chief executive officer of GE’s Fleet Services business, will remain in his current position. . .Todd Kindem has been appointed director of sales and marketing for ArvinMeritor’s Commercial Vehicle Aftermarket (CVA) business in North America. . .Bendix Commercial Vehicle Systems has promoted John Allgaier to director of corporate accounts. . .David Gilliland has been promoted to vice president of branch sales and operations for Great Dane Trailers.
Taking $tock
A look at truck transportation-industry Fortune 500 public companies:
| Company | Symbol (Click for Chart) |
04/24 Close | Two Week Performance | |
|---|---|---|---|---|
| ArvinMeritor | ARM | $18.32 | $0.06 | 0.33% |
| Avis Budget Group Inc. | CAR | $28.90 | $0.56 | 1.98% |
| Caterpillar Inc. | CAT | $72.81 | $0.96 | 1.34% |
| Cummins Inc. | CMI | $85.55 | $0.79 | 0.93% |
| Eaton | ETN | $88.08 | $0.23 | 0.26% |
| General Electric | GE | $34.76 | $0.04 | 0.11% |
| Goodyear Tire & Rubber | GT | $32.22 | $0.08 | 0.25% |
| PACCAR Inc. | PCAR | $86.56 | $7.77 | 9.86% |
| Ryder | R | $51.96 | $0.36 | 0.74% |
SOURCE: Yahoo! Finance and bigcharts.com
Money Matters
Ryder System credits the increase in long-term contracts to supply other companies with vehicles as a reason behind the company's first quarter profit growth of 7.8 percent. FULL STORY
Rush Enterprises, Inc. truck segment announced revenues of $505 million in the first quarter of 2007, compared to $474.3 million in the first quarter of 2006.FULL STORY
Eaton Corp. reports that its earnings were $234 million for the first quarter of 2007, compared to $208 million a year ago. FULL STORY
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PACCAR's announcement of first quarter results saw shares gain $7.77 or 9.86 percent in NASDAQ trading on Tuesday, sending the stock to an all-time high of $90.70, before settling at $86.56 at the end of the day.FULL STORY
News From TRALA
Early Bird Rates Extended to April 27!
Advertise in the premier industry reference guide…The TRALA Vehicle! Keep an eye on your mailbox for information about the 2007-2008 rates and guidelines for our annual Membership Directory and Buyers Guide. Reach your target audience and advertise with TRALA! For more information, contact TRALA’s Maggie Brown at (703) 299-9120 or mbrown@trala.org