Stock market reports show that many trucking stocks have fallen significantly since February. Experts are saying this is the time to either invest in truck driving companies or join the industry’s workforce. They’re forecasting that these stock prices will rise sharply and there will be more money pouring into the truck driving industry.
Why? They cite that many trucking companies, like Navistar, PACCAR, and Meritor reported an impressive growth in their last quarter earnings. Trucking orders are soaring across the board too. In fact, North American heavy-duty Class 8 orders increased by over 75 percent over the last few years. And then there’s the truck driver shortage companies are dealing with because of this increasing growth in hauling demands. Freight companies are currently experiencing the worst of these driver shortages.
New Truck Technology on the Horizon
But it’s not just a boost in revenue and demand that’s getting experts riled up about trucking stocks – they’re also excited about the new technology that’s about to enter the truck driving field. These upcoming innovations target fuel economy and make truck driving easier.
Hyliion’s electric drive-axle system recently won the 2017 Jim Winsor Memorial Technical Achievement Award. The auxiliary axle system is made up of one axle, a motor-generator, battery pack, and electronic control system. When installed on a truck, it replaces the second axle or becomes an added axle that turns the truck into a 6×4.
The electric axle system gets charged when a truck uses its brakes – it converts the braking energy into battery power. Then, when a truck is going uphill, the auxiliary axle kicks in to help give the truck an extra boost, which helps the engine and lowers fuel costs.
The electronic control system also automatically detects terrain changes via GPS and mapping. It adjusts the axle system’s power settings depending on the changing landscape as the truck makes its long hauls.
Nvidia is also partnering with trucking companies, such as PACCAR, to create better in-truck tools to help drivers with backing up and navigating through the roads. Nvidia specializes in graphics and visual processing – they’re a top video card manufacturer for computers. They could possibly help integrate better camera and visual technology with trucks to give drivers an easier time with less risk of accidents while on long hauls.
But on the flip side, Nvidia could also help further the self-driving truck front, which wouldn’t necessarily be good for truck drivers.
There’s also the advances in clean-powered trucks, like Tesla’s new electric truck, that are making progress in development. These green trucks will help drastically lower carbon emissions while also saving truck drivers thousands of dollars a week on fuel costs.
This is certainly an ideal time to venture into the truck driving industry. You can’t lose either way – if you invest in trucking stocks, you’re sure to see your money multiplied in the coming months. If you decide to become a truck driver, the companies that need truck drivers the most will award you a more than competitive income with benefits.