This week in Borderlands: Mexico truck makers break an export record in August; trucks moved $44 billion in U.S.-Mexico cross-border freight in July; Kia announces a $408 million expansion to grow its operations in Mexico; and an autonomous vehicle technology maker plans a factory in Mexico.
Category Archives: Industry News
The ghost of Paul Volcker is stalking truckload carriers as Fed Chairman Jerome Powell looks to his mentor’s 40-year-old strategy to quell inflation. The lagging impacts from the recent interest rate hikes will inevitably erode demand several months into the future.
Chapter 11 bankruptcy proceedings for trucking company Wyotrans have taken a rocky turn after two of its largest secured creditors claim they haven’t been paid in two months for leased or rented equipment being used to haul freight and that the carrier is behind on insurance premium payments.
Nikola CFO Kim Brady testified in Trevor Milton’s fraud trial that the founder\’s statements \”could be inaccurate or exaggerated.\”
Since the pandemic started, many shippers found their existing contracts unable to ensure carrier compliance. Supply and demand were especially volatile, and so spot rates, which are more sensitive to changing market conditions, handily outpaced contract rates.