industry insights

The trucking industry is constantly experiencing dynamic shifts in capacity. Consumer demands, economic trends, supply chain disruptions and regulatory changes can all affect supply and demand for trucking services. The fourth quarter often experiences a surge as retailers meet increased holiday demands.

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Safety is critical in the trucking industry. A robust safety program not only keeps drivers and cargo safe but also reduces the risk of an accident, ensures compliance with regulatory standards and keeps operations running efficiently. Leasing can be a cost-effective strategy to enhance a company’s safety program.

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Safety is a critical concern for fleets and professional drivers, and onboard safety technology is a powerful tool to enhance drivers’ ability to control a motor vehicle, improve reaction times, reduce liability and even help control insurance costs.

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Keeping equipment running is essential for fleets, and mobile maintenance services can increase efficiency by performing on-site services, repairs and inspections at a fleet's location. Bringing the shop to the equipment can save time and make scheduling preventive maintenance and needed repairs easier. A robust maintenance program increases safety and reduces the risk of breakdowns or unscheduled repairs, which keeps equipment moving and boosts driver satisfaction.

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Battery electric vehicle adoption has surged, as 2023 sales nearly doubled 2022's delivery volume, with more than 26,000 buses, trucks and vans delivered. "The State of Sustainable Fleets 2024 Market Brief" found that deliveries of Class 8 battery electric tractors grew six-fold, from more than 100 to nearly 700 units. Other sectors, including trucks and vans, also experienced significant growth.

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Regular maintenance is critical to equipment safety, reliability and efficiency. It helps fleets and drivers prevent mechanical failures, avoid roadside violations and maintain uptime. However, maintaining equipment can be complex, requiring significant investments in tooling, training and labor.

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The trucking industry is facing increased costs from nearly every angle, including labor, interest rates, equipment expenses, insurance and more. Although operational costs per mile are trending upward, the freight market remains soft, making it difficult for fleets to raise rates. As a result, fleets have to focus on managing costs.

There are several ways fleets can increase efficiency and optimize their expenses.

Spec the Optimal Vehicle: Spec’ing the right vehicle for the application is critical. It improves overall efficiency and fuel economy while also reducing operating costs and the risk of mechanical failures. Utilizing data (including information from the engine control module such as average trip speed, the gear ratio and engine horsepower) can give fleets insight into how a vehicle is utilized.

Increase Fuel Efficiency: Fuel is one of the top costs fleets experience, and even pennies per gallon add up. Increasing fuel efficiency and minimizing fuel consumption create significant cost savings. Advanced engine technologies, such as improved combustion efficiency, reduced friction and optimized gear ratios, can improve fuel efficiency. Transmission technologies, such as automated manual transmissions (AMTs), can also enhance fuel economy by ensuring the engine operates in its most efficient range. Additionally, certain tires, such as low-rolling-resistance tires, can drive further fuel efficiency savings.

Focus on Aerodynamics: The aerodynamic design of a truck significantly impacts fuel economy, and EPA-verified aerodynamic devices can save fuel by minimizing aerodynamic drag and maintaining smoother airflow. The North American Council for Freight Efficiency has identified dozens of technologies and best practices to improve freight efficiency.

Use Quality Fuel: The energy content of the fuel directly impacts fuel efficiency, and fuels with higher energy content release more energy when combusted. If there are issues with fuel such as contamination, a low cetane rating or high sulfur, the fuel economy can drop.

Cut Down on Idling: An idling Class 8 truck can consume one gallon of fuel each hour and create more wear and tear on the engine. NACFE reported that the average truck idles about 1,000 hours a year, and the Environmental Protection Agency estimates that each year, long-duration truck idling consumes one billion gallons of fuel. Auxiliary power units — whether battery or diesel-powered —reduce idling, which reduces fuel consumption, increases engine life and improves driver comfort.

Reduce Downtime: Downtime due to equipment issues can create direct and indirect costs for fleets. Proactive preventive maintenance can help fleets address issues before they become significant problems.

Increase Back-Office Efficiency: Licensing vehicles, completing fuel tax reporting and complying with Department of Transportation audits can be complex processes. Tapping into a third party that can provide support can help free up back-office staff within the fleet while ensuring all requirements are met.

Let Penske Help

There are several ways leasing with Penske can help fleets increase efficiency and manage costs. To learn more about how Penske can help you spec the right vehicle, get ahead of fuel costs, improve maintenance, and streamline regulatory compliance, contact us today.

Electric powertrains, cleaner-burning diesel technology and alternative fuels are continuing to improve, and original equipment manufacturers, shippers and carriers are all moving toward net-zero goals, according to the fifth annual State of Sustainable Fleets report.

“If I had to really sum up the report for this year, there’s one word that comes to mind: growth,” said Erik Neandross, president of GNA, which produced the report. “Over the last 30 years, the market has had ups and downs, but over the 30-year period, the markets have grown 1,000%.”

While discussing the report in his keynote speech at the Advanced Clean Transportation Expo in Las Vegas, Neandross said that announcements about new, clean technologies are “seemingly nonstop.” He added that challenges remain, including costs, the amount of power available on the grid and infrastructure needs.

“We know it is not going to be easy. We know it is not going to be cheap, and we know it isn’t going to be a straight line quarter after quarter,” Neandross said.

Even still, OEMs are as committed as ever, and fleets are investing in new solutions. Neandross said the three big drivers are massive global investments in clean technology, growing commitments around sustainability and carbon reductions, and regulatory requirements. “We have a couple of really critical regulations that were adopted that are going to accelerate our move forward to lower carbon fuels and zero-emission vehicles in every sector: light, medium, heavy,” he explained.

Fuel and technology growth included:

Renewable Diesel: The national consumption of RD increased by 68% year over year, according to the report. Renewable diesel is considered a “drop-in” fuel, meaning it can be used as a direct replacement for diesel fuel in diesel engines. Most consumption occurred in the West Coast states. The report found that 75% of fleets currently using RD would buy it in greater quantities if they could access it without additional cost, and 63% have asked their providers about the option.

Natural Gas: Fleet demand for natural gas increased again in 2023, concentrated among existing users. Additionally, more than 150 new renewable natural gas production facilities came online in 2023. The growth helped sustain CNG prices and helped them be competitive with other fuel choices. The demand for RNG among fleets also grew for the third consecutive year.

Electric Vehicles: More than 26,000 battery-electric trucks, vans, and buses were delivered to fleets in 2023, doubling since 2022. Cargo vans and pickup trucks made up 90% of those deliveries. Tractor deliveries grew sixfold, from more than 100 to nearly 700 units, while volumes doubled in virtually all other sectors. The State of Sustainable Fleets report found that at least 39% of the fleets surveyed in every sector reported using BEVs in 2023, the highest use rate across the five leading clean drivetrains for fleets.

Hydrogen: Growth of hydrogen in 2023 was spurred by federal investments in hydrogen production and infrastructure, notably the Department of Energy’s allocation of $7 billion to seven proposed fuel production and distribution hubs spanning 16 states. It will be several years before the H2 hubs meaningfully impact fuel price and supply, but the program is expected to reduce the risk for investors exploring hydrogen fuel and vehicle production. Major OEMs pursuing the hydrogen space include Kenworth, Peterbilt, Toyota, Hyundai and Nikola.

Diesel Technology: Fleets purchased about 7% more commercial trucks in 2023 than in 2022, signaling an upswing in demand as fleets rush to purchase new trucks before the EPA’s MY2027 heavy-duty engine standard kicks in. Estimates suggest this standard could raise diesel vehicle costs by approximately 12%.

Overall Energy Solutions

Charging infrastructure gaps and delays dominated discussions in 2023. Reliable access

to sufficient power is crucial to the success of any private or public charging facility, and

electrical service has become the make-or-break element of the first depot-sized projects, according to the report.

During the event, Penske Transportation Solutions and ForeFront Power announced their new joint venture — Penske Energy — to help commercial fleet operators plan, design and deploy optimized EV charging infrastructure capabilities that support and safeguard their operations.

Penske Energy will provide fleet operators with comprehensive EV charging and energy infrastructure advisory consulting, including strategic and operational planning, technology assessment, infrastructure designs and practical project implementation.

“We’ll work with our longstanding supplier partners in the energy and energy infrastructure sector and bring to bear the best possible solutions available for our commercial fleet customers,” said Drew Cullen, senior vice president of fuels and facilities at Penske Transportation Solutions.

Available Technology

Penske Truck Leasing has a wide range of low- and zero-emission solutions available today, including CNG, battery-electric and late-model diesel vehicles as well as renewable diesel. Learn more by contacting us today.

The Commercial Vehicle Safety Alliance’s International Roadcheck is scheduled for May 14-16, and the agency has said inspectors will focus on tractor protection systems. Specifically, inspectors will look at the tractor protection valve, trailer supply valve and anti-bleed back valve, which CVSA said are critically important vehicle components but may be overlooked during trip and roadside inspections.

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Advanced Driver Assistance Systems, also called ADAS, are designed to augment driver capabilities and enhance safety. They also have the added benefits of increasing driver comfort and improving the overall driving experience.

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Innovation, research and development of commercial vehicle technology continue to increase, and there has been an unprecedented wave of private investment, public funding and policy focus across the commercial transportation sector, bringing more sustainable solutions to fleets.

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You leave your truck for the night and return the next morning. In between, anything could happen. How do you know your vehicle is still in tip-top shape? You won’t unless you conduct a thorough pre-trip inspection.

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Fuel theft is a significant concern for trucking companies, leading to financial losses, increasing business costs and potentially disrupting operations. Fuel theft can happen in various ways, from drivers misusing company fuel cards to criminals installing skimming devices at fuel pumps to capture payment card information, which they then use until a fleet manager deactivates the card.

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Original equipment manufacturers are constantly developing new technology, safety enhancements and comfort features, and running late-model equipment can give fleets a competitive advantage. Benefits of new OEM technology include:

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As a professional driver, you face countless challenges on the road, and you can’t anticipate them all. But here’s one that’s totally within your control: keeping your cargo safe and secure.

Proper cargo securement is more than just making sure every item in your trailer or flatbed is tied down. It also involves achieving the right balance. When your cargo is evenly distributed, you’ll avoid the risk of load shifting. It’s a serious problem that makes a truck difficult to drive. It can even cause a truck to roll over.

A few ways to secure your cargo and prevent load shifting:

  • Sweep out your trailer so you start with a clean floor.
  • Inspect all securement devices (tie-downs, ratchet straps, chains, binders, cargo nets) for signs of wear and tear. Replace any damaged tie-downs and be sure to always carry more than needed just in case a replacement is needed while on the road.
  • Check the working load limit (WLL) of your tie-downs so you don’t overstress them.
  • Inspect the load you’ll be hauling. Look for the weight (which should be listed on the bill of lading) and length of your cargo.

As you load

  • Use the right number of tie-downs. Federal Motor Carrier Safety Administration (FMCSA) recommendations call for:
    • One tie-down for items that are 5 feet long or shorter and weigh 1,100 lbs. or less
    • Two tie-downs for
      • Items that are 5 feet long or shorter and weigh 1,100 lbs. or more
      • Items that are longer than 5 feet but shorter than 10 feet
    • Use additional tie-downs for every extra 10 foot of length
    • Unsure of how many tie-downs to use? Add an extra tie-down or two to be extra cautious.
  • Make sure all securement devices are tight but not too tight—they should snap like a rubber band.
  • Use edge protectors to prevent straps from damaging your cargo.
  • Secure any rolling cargo with chocks, wedges or cradles.
  • Distribute your load as evenly as possible and try to secure cargo to fixed points inside your trailer or on a flatbed.

As you drive

  • Inspect your cargo within the first 50 miles, then every 3 hours, 150 miles or at change of duty. Make sure nothing has shifted or moved. Tighten any loose tie-downs.
  • Drive safely. Take tight curves slowly. Avoid harsh braking. Slow down in inclement weather.

Remember, proper cargo securement is the driver’s responsibility. Take the time to balance your load, drive safely, and check your load in transport to keep you and your cargo safe.


Cargo theft spiked last year, with thieves becoming more strategic and targeting high-value loads.

“The motives and the way the criminals are operating has changed, and cargo theft is increasing tremendously,” said Keith Lewis, vice president of operations at CargoNet, a Verisk company.

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Sustainability within the supply chain continues to improve, creating economic and environmental benefits for shippers and transportation providers. A wide range of solutions that can reduce carbon emissions, increase efficiency and improve operations is already available, and new solutions are on the horizon.

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Uncertainties around the economy, consumer spending and freight demand remain, and predicting capacity demands, consumer behavior and business needs can be challenging in the current operating environment. However, there are strategies fleets can use to prepare for the year ahead, no matter what it brings.

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New regulations affecting fleet operations are increasing, and carriers must comply with existing requirements while keeping up with the latest changes. The federal government and some states are creating stricter emissions requirements. California often takes the lead at the state level, and the California Air Resources Board (CARB) has adopted several measures that are being introduced or implemented in other states.

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The strategic utilization of trailers provides a scalable solution that helps fleets meet shifting transportation capacity or storage needs without the long-term commitment and expenses associated with adding trucks or leasing warehouse space.

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