{"id":107836,"date":"2021-02-24T10:43:39","date_gmt":"2021-02-24T10:43:39","guid":{"rendered":"https:\/\/fin2me.com\/?p=107836"},"modified":"2021-02-24T10:43:39","modified_gmt":"2021-02-24T10:43:39","slug":"why-the-postal-service-has-been-losing-money-for-years","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/why-the-postal-service-has-been-losing-money-for-years\/","title":{"rendered":"Why the Postal Service has been losing money for years"},"content":{"rendered":"<p><cite> (CNN Business)<\/cite>Few things have changed less during the course of this century than this nation&#8217;s fleet of postal delivery vehicles.<\/p>\n<p>The squat, box-like van (OK, let&#8217;s just call them what they are&#8211;ugly) have a steering wheel on the right to make it easier for drivers to reach out and put mail in curbside mail boxes. They have few creature comforts, such as air conditioning. They are designed to be rugged, not flashy. They have lived up to their name, the Grumman LLV, for long lasting vehicle.<br \/>\nThis ubiquitous fleet of 200,000 vehicles has been around longer than such common features of modern life as smartphones, online shopping, social media, streaming services or Google. About 70% of them are between 25 and 32 years old. DVDs have come and gone into people&#8217;s lifestyle in that time.<\/p>\n<ul><\/ul>\n<p>But their days are finally numbered.<br \/>\nOn Tuesday the US Postal Service unveiled a contact for its next generation delivery vehicle, or NGDV. And when they start hitting the road in 2023, they may take some getting used to. <\/p>\n<p><img decoding=\"async\" alt=\"The US Postal Service unveiled its next generation delivery vehicle Tuesday. It is due to start delivering mail and packages in 2023.\" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210223180420-postal-service-delivery-vehicles-contract-large-169.jpg\"><br \/>\nThe new van has a low engine compartment and hood and a very high windshield. It looks like a duck&#8217;s head, complete with bill. The back is tall enough for a letter carrier to stand in.<br \/>\nIt also has safety features missing from many of the current vehicles, including \u2014  believe it or not \u2014 airbags, which are standard features in virtually all motor vehicles today.<br \/>\nThey also will have back-up cameras, front collision warnings, automatic front and rear braking, blind spot detectors and, to the relief at last of letter carriers come summer, air conditioning.<br \/>\nThe vehicles will have more cargo space than current vehicles, allowing USPS to deliver more packages, a growing and profitable part of its business, rather than traditional letters, a segment that&#8217;s shrinking.<br \/>\nMany but not all of the NGDVs will be electric vehicles. With electric vehicle changing at a fast pace and the vehicles designed to last decades, the contract calls for the electric versions to able to be retrofitted to keep pace with advances.<br \/>\nThe rest will be what the USPS says will be high efficiency traditional gasoline engines. The precise mix between EVs and internal combustion engines has not been set. But the mix has already elicited criticism from environmentalists.<br \/>\n&#8220;The USPS NGDVs should be electrified as a matter of urgency,&#8221; said Robbie Diamond, president of Securing America&#8217;s Future Energy, or SAFE. &#8220;This contract is a golden opportunity to stimulate the domestic EV market and supply chain, and a commitment to electrifying the NGDV would provide a clear incentive for further domestic EV industry development.&#8221;<br \/>\nThe vehicles have also been in the works for years.  USPS has been working on the project with potential suppliers since 2016.<br \/>\n<img decoding=\"async\" alt=\"A month after the holidays, some people are still getting Christmas packages in the mail \" class=\"media__image\" src=\"\/\/cdn.cnn.com\/cnnnext\/dam\/assets\/210127191442-usps-shipping-delays-1223-large-169.jpg\"><br \/>\nThe contract announced Tuesday was to Oshkosh Defense, a unit of Oshkosh Corp.<br \/>\nUnder the contract it will build between 50,000 and 165,000 vehicles over a period of 10 years. It will initially get $482 million to initiate engineering efforts to finalize the production vehicle design, and for tooling and factory build-out activities that are necessary prior to vehicle production. <\/p>\n<ul><\/ul>\n<p>The amount of the contract to actually purchase the production version of the vehicles has not yet been set, but it will almost certainly be a multi-billion dollar deal.<br \/>\nShares of <span>Oshkosh<\/span> <span>(<span>OSK<\/span>)<\/span> jumped 6% in late trading after the announcement and were up another 7% in after-hours trading.<br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2021\/02\/23\/business\/new-postal-service-delivery-vehicle\/index.html\" target=\"_blank\" rel=\"noopener noreferrer\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNN Business)Few things have changed less during the course of this century than this nation&#8217;s fleet of postal delivery vehicles. The squat, box-like van (OK, [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":107835,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why the Postal Service has been losing money for years - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/business\/why-the-postal-service-has-been-losing-money-for-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why the Postal Service has been losing money for years - Fin2me\" \/>\n<meta property=\"og:description\" content=\"(CNN Business)Few things have changed less during the course of this century than this nation&#8217;s fleet of postal delivery vehicles. 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