Work Truck Solutions raises $5M to expand service offerings

Work Truck Solutions announced it has completed a Series B Preferred Stock financing round of $5 million.

Kathryn Schifferle, CEO and founder of Work Truck Solutions, stated that the company will use this new round of funding to accelerate expansion of the marketing and commercial inventory management services that the company provides to commercial truck dealers. In addition, she explained, they will continue to develop services for the body manufacturers and distributors that serve the industry.

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Love’s Travel Stops opens store in Nevada

Additional truck-parking spaces, showers and other driver services are now available in a new part of Nevada. Love's Travel Stops opened a new location in Ely at the intersection of U.S. Highway 6 and U.S. Highway 50.

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ATA: Driver turnover ticks up but still at low levels

According to data tracking by the American Trucking Associations (ATA), the turnover rate for drivers at U.S. TL fleets increased slightly in the first quarter this year while remaining at what the group called “historically low levels.”

In the first three months of the year, the trade group said the annualized turnover rate at large TL fleets – those with annual revenues greater than $30 million – rose three percentage points to 74%.

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Cellcontrol, Dohrmann unveil program to lower commercial insurance premiums

Cellcontrol along with Dohrmann Insurance have joined forces for a new program to lower commercial insurance premiums and reduce the crashes caused by distracted driving.

For commercial companies currently utilizing Cellcontrol to keep their drivers safe, and new companies interested in utilizing the platform, Dohrmann noted will cover the cost of activation, while at the same time saving customers up to 30% on their insurance premiums. The program launched June 26.

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More Ram 1500 luxury upgrades for 2018 revealed

Ram Truck is introducing several new factory-built custom packages for the 2018 model Ram 1500 pickup.

The first is a new Big Horn Black package offered exclusively in black, with all-black exterior features including a black grille, black badging, black wheels and black headlamp bezels.

The second – available only in Texas – is a new Lone Star Black package for 2018 Ram 1500 models.

Ram said both its new Big Horn and Lone Star Black models start at $44,290 plus a $1,395 destination charge.

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Celebrating Independence Day

Public Domain Photo

Like many across the country on Monday, Heavy Duty Trucking is celebrating Independence Day and closing our offices. However, many of our readers will still be working hard that day, so we have filled our newsletter with some of the most popular online articles from the past few months.

Our editors not only put in hard work to publish our print magazine but also produce great online content, all of which is written and edited to help improve your fleet business as well as provide various thoughts on every aspect of the industry.

Whether it is our features, blogs, or photos, all of it is done in the hope that our readers will gain new and useful insights on trucking.

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Analysis: Don’t Mind the Bumps, Numbers Still Look Promising for 2017

The Cass Freight Index showed positive numbers in April for the fourth straight month, indicating a possible end to the “freight recession.” Source: Cass Information Systems

It seems just as soon as one report comes out saying there are indications the economy (and trucking) continues to get better, another follows that seems to point the other way.

The Cass Freight Index, which measures overall freight volumes and expenditures, showed both measures were positive in April for the fourth straight month. The writer of the report, Donald Broughton of the economic and equity research firm Broughton Capital, pointed out the “data is suggesting that the consumer is finally starting to spend a little.” The numbers, he said, indicated the “overall freight recession” that began in 2015 appears to be over, while freight seems to be gaining momentum in most segments and the overall economy “continues to get slightly better.”

But not everyone in trucking is feeling the positive effects equally.

For instance, consumers aren't spending at brick and mortar retailers. Just look at how many have closed this year or have reported lower sales. While parcel volumes associated with e-commerce continue to show outstanding rates of growth, according to Broughton, with both FedEx and UPS reporting strong U.S. domestic volumes, truckload volume isn't showing such growth.

Fewer truckload shipments are going to retailers and more is coming from distribution centers. Broughton noted figures from February, the most recent month available, show dry van loads fell on a year-over-year basis five out of the last eight months.

Then there's the American Trucking Associations For-Hire Truck Tonnage Index, which in April fell from the month before for the third straight month on a seasonally adjusted basis. The tonnage actually hauled by fleets before any seasonal adjustment fell 7.8% in April from March.

One likely reason, ATA Chief Economist Bob Costello ...Read the rest of this story