World Trucks Blog: CAT North American On-Highway Business Plunges 53 Per Cent.
The fallout from the slowing economy and the EPA Diesel emissions rules keeps coming. Truck and trailer manufacturers are announcing falling sales and layoffs as fleets stop buying. Trucking companies are missing revenue and profit targets as a glut of trucks chasing a shrinking freight base put shippers back in the drivers seat (and rates back in the crapper). The latest victim is Caterpillar which saw engine sales in the US fall 53% in the first quarter of this year.