Summit Notebook
Exclusive outtakes from industry leaders
AUDIO – What’s going on with the economy? Ask a trucker.
That was the advice from truck manufacturer Navistar International Corp’s CEO Dan Ustian at this week’s Reuters Manufacturing and Transportation Summit in Chicago.
Ustian said the current slowdown has been worse and deeper than expected — even though the trucking industry had a sense that things were starting to go south as far back as 2007.
Ustian, one of our featured guests on the first day of the summit, told Reuters that the trucking industry is a great place for people to start if they want to get a good read on the economy. Most things that are made in the U.S. get where they’re going with the help of a truck somewhere along the way.
The breadth of the company’s businesses supports his view.
Navistar is a manufacturer of commercial trucks, IC Bus, LLC (IC) brand buses, MaxxForce brand diesel engines, Workhorse Custom Chassis, LLC (WCC) brand chassis for motor homes and step vans, Navistar Defense, LLC military vehicles, and is a provider of service parts for all makes of trucks and trailers. Additionally, it also designs and manufactures diesel engines for pickup trucks, vans, and SUVs.
AUDIO-Looking for a bottom? Keep looking…
The U.S. is more than a year into the current recession, but things are still looking nasty. At least that’s what Bill Zollars, chief executive of trucking company YRC, believes.
The trucking industry has been in pain since late 2006, due in part to the flagging auto and housing industries. It could also be expected that the sector should see a pick-up before the broader economy, but the environment has remained difficult, Zollars said at the annual Reuters Manufacturing and Transportation Summit held in Chicago.
