TopMark Funding-Logo
Search
  • DealerLinc
  • Dealers
  • Truck Financing
    • Semi Truck Financing
      • Fleet Financing
      • Semi Truck Lease
      • Semi Truck Loan
      • New Semi Trucks
      • Used Semi Trucks
      • Tractor Trailers
      • Owner Operator
      • Sleeper Cab Financing
      • Day Cab Financing
      • Apply Now
    • Trailer Financing
      • Reefer Trailer Financing
      • Dry Van Trailer Financing
      • Flatbed Trailer Financing
      • Dump Trailer Financing
      • Lowboy Trailer Financing
      • Tanker Trailer Financing
      • Drop Deck Trailer Financing
      • RGN Trailer Financing
      • Heavy Haul Trailer Financing
      • Apply Now
    • Commercial Truck Financing
      • Dump Truck Financing
      • Box Truck Financing
      • Straight Truck Financing
      • Utility Truck Financing
      • Work Truck Financing
      • Bucket Truck Financing
      • Garbage Truck Financing
      • Grapple Truck Financing
      • Commercial Fleet Financing
      • Apply Now
    • Commercial Vehicle Financing
      • Amazon Delivery Van Financing
      • Cargo Van Financing
      • Moving Van Financing
      • Sprinter Van Financing
      • Emergency Vehicle Financing
      • Ambulance Financing
      • Taxi Cab Financing
      • Apply Now
    • Transport Vehicle Financing
      • Bus Financing
      • Motor Coach Financing
      • Tour Bus Financing
      • Shuttle Bus Financing
      • Limousine Financing
      • Limo Bus Financing
      • Passenger Van Financing
      • Apply Now
  • Heavy Equipment Financing
    • Dump Truck Financing
    • Excavators Financing
    • Loaders Financing
    • Backhoes Financing
    • Bulldozer Financing
    • Wheel Tractor Scraper Financing
    • Dragline Excavator Financing
    • Paving Machine Financing
    • Graders Financing
    • Trenchers Financing
    • Compactor Financing
    • Telehandler Financing
    • Tower Crane Financing
    • Feller Buncher Financing
    • Pile Driving Equipment
    • Concrete Pump Financing
    • Cement Truck Financing
    • Construction Vehicle Financing
  • Equipment Financing
    • Medical Equipment Financing
    • Business Equipment Financing
    • Computer Hardware Financing
    • IT Equipment Financing
    • Software Financing
    • Apply Now
  • Business Loans
    • Small Business Loans
    • Working Capital
    • Merchant Cash Advance
    • Apply Now
  • About Us
    • DealerLinc
    • Dealers Partners
    • About Us
    • In The News
    • Our Reviews
    • Contact Us
    • Referrals
    • FAQ
    • Careers
    • Blog
  • Blog
    • Semi Trucks
    • Guides
    • Business
    • Finance
  • Get a Quote
  • (866) 627-6644
TopMark Funding BBB Business Review
Trustpilot
Mack_Volvo_Production
March 22 2020

Mack and Volvo Suspend Truck Production

TopMark Funding Business, Commercial Trucking, Coronavirus, News 0

Mack Trucks and Volvo Group both announced on Friday that they were going to cease assembly operations due to the coronavirus.

“We have decided to temporarily suspend production as part of the effort to slow the spread of the virus in our communities.” Mary Beth Halprin, vice president of public relations, Volvo Group, said.

“During this suspension we will be exploring new ways of working and possible approaches to production that would allow for increased social distancing in the facility. The health and safety of our employees and communities will be our primary concern as we work to make the most informed decisions we can during this uncertain time.”

The news comes on the tails of announcements by General Motors, Fiat Chrysler, and Ford shutting down their production facilities. Mack and Volvo appear to be the first manufacturers of heavy duty trucks, however, to stop production in retaliation to the coronavirus epidemic.

Never Waste a Crisis

In a sardonic (cynically humourous) way, the coronavirus disaster could not have come at a greater time for Volvo, Mack, and trucking manufacturers in the United States. TopMark Funding predicted in mid-January that the production of new big rigs would stall (though not to this extent).

Used trucks are the big deal in 2020. In 2019, 24,000 trucks were put out of business and onto the market to be sold. This made things bleak for the companies that made and already sold those trucks. After all, why buy a 2020 Peterbilt when the average vehicle loses 9% of its value the instant it is no longer new?

Because of this competition from used commercial vehicles, the manufacturers have been feeling a squeeze on its sales and margins. Taking a break from building new heavy duty trucks and letting used ones exit the market could be a smart business decision to increase revenue later in the year. If it stops the spread of coronavirus, the shutdowns alleviates two problems at once.

Conclusion

Ever since President Trump announced a state of emergency regarding COVID-19, businesses across the nation have been closing up shop temporarily to curtail the spread of the disease. Truck drivers can mostly breathe a sigh of relief, however, as trucking as an industry is not only an essential business to keep stores running (and in some cases the virus has helped the trucking industry), but it also is a naturally isolating profession. The odds of a trucker catching novel coronavirus is slim, and even if they did, the odds they transmit it to another is also slim. Just make sure to use gloves when handling that diesel pump!

CHECK OUT THESE OTHER GREAT TRUCKING ARTICLES

  • Mack Trucks to Reenter Medium-Duty Market
  • How to Grow Your Trucking Company
  • Trucking in 2020 and Beyond
  • Benefits of Leasing a Semi-Truck

ABOUT TOPMARK FUNDING

TopMark Funding is a top-rated semi-truck financing and equipment financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.

We’re not here for the short-term, we’re on the long-haul with you!

We have financing options for semi-trucks, commercial trucks, trailers, and small businesses. We have great rates, low down payments, and flexible monthly payments regardless of credit history.

Learn more about: Semi-Truck Financing

Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.

Need a Semi-Truck Financing Quote

Trustpilot

Post Views: 113
FMCSA Expands Its COVID-19 Response Coffee and Crashes: Limit Your Caffeine

Related Posts

UPS_Sells_UPS_Freight_to_TFI_International

Business, Commercial Trucking, Financial news, News, Trucking Companies

UPS Sells UPS Freight to TFI International

Meera_Joshi

FMCSA, News, President, Regulations, Semi Trucks

Meera Joshi to Become FMCSA Deputy Administrator

Trucking_in_2021_and_Beyond

Business, Commercial Trucking, Opinion, Semi Trucks, Tesla

Trucking in 2021 and Beyond

Search

Blue Semi Truck

Follow Us

Subscribe

* indicates required

Recent Posts

  • UPS Sells UPS Freight to TFI International
  • Meera Joshi to Become FMCSA Deputy Administrator
  • Trucking in 2021 and Beyond
  • Biden’s First 100 Days and How it May Affect Trucking
  • The Case for Hourly Pay Trucking

Categories

  • ATA (1)
  • DealerLinc (1)
  • Press Releases (2)
  • Load Boards (3)
  • Tesla (3)
  • Congress (4)
  • California (5)
  • Nikola (5)
  • Fleet Management (6)
  • BLS (6)
  • ACT (7)
  • Construction (8)
  • CVSA (8)
  • Freight Rates (9)
  • Dealers (9)
  • President (9)
  • Financial news (11)
  • Entertainment (11)
  • Dump Trucks (11)
  • FTR (12)
  • How To (15)
  • Truck Financing (19)
  • Best Trucker (21)
  • Trucking Companies (26)
  • Opinion (35)
  • Finance (47)
  • Technology (49)
  • FMCSA (64)
  • Coronavirus (73)
  • Guides (91)
  • Regulations (103)
  • Business (135)
  • Semi Trucks (162)
  • Commercial Trucking (174)
  • News (177)

Archives

  • January 2021 (13)
  • December 2020 (16)
  • November 2020 (21)
  • October 2020 (20)
  • September 2020 (19)
  • August 2020 (20)
  • July 2020 (23)
  • June 2020 (22)
  • May 2020 (22)
  • April 2020 (15)
  • March 2020 (28)
  • February 2020 (25)
  • January 2020 (30)
  • December 2019 (20)
  • November 2019 (17)
  • October 2019 (7)
  • September 2019 (7)
  • August 2019 (15)
  • July 2019 (2)
  • June 2019 (5)
  • May 2019 (2)
  • April 2019 (8)
  • March 2019 (6)
  • February 2019 (2)
  • January 2019 (1)
  • December 2018 (3)
  • November 2018 (3)
  • October 2018 (3)
  • September 2018 (3)
  • August 2018 (1)
  • July 2018 (1)
  • June 2018 (1)
  • August 2017 (1)
  • April 2017 (1)
Trailer Financing - 300x600 Banner

Financing Programs

  • Dealers Financing
  • Semi Truck Leasing
  • Semi Truck Financing
  • Dump Truck Lease
  • Box Truck Leasing
  • Fleet Financing
  • Working Capital

Company Info

  • About Us
  • Reviews
  • Blog
  • Careers
  • FAQ
  • Referrals
  • Privacy Policy

Recent Articles

  • UPS Sells UPS Freight to TFI International
  • Meera Joshi to Become FMCSA Deputy Administrator
  • Trucking in 2021 and Beyond
  • Biden’s First 100 Days and How it May Affect Trucking
  • The Case for Hourly Pay Trucking

Headquarters

516 Gibson Drive, Suite 160

Roseville, CA 95678

(866) 627-6644

TopMark Funding BBB Business Review