CCJ‘s Indicators rounds up the latest reports on trucking business indicators on rates, freight, equipment, the economy and more.
Preliminary North American Class 8 truck orders hit 43,000 in October, according to FTR, marking the eighth straight month that orders have topped 40,000. October’s number was the 10th highest on record, FTR says. Truck orders over the past 12 months now total 504,000 — more than double the order numbers of recent calendar years.
FTR attributes the sustained strong order numbers to fleets hoping to secure build slots for 2019. The firm predicts freight volumes to remain healthy well into 2019 and capacity to remain tight.
“October is traditionally the start of the next year’s order season, so to see strong numbers now is not surprising. But ordering for 2019 began in July with back-to-back record months. For orders to still be this hefty in October after that is remarkable,” said Don Ake, FTR’s vice president of commercial vehicles.
“Fleets want to make sure they have access to new trucks, as the growing economy continues to stretch capacity. They continue to place a record number of orders to ensure they will have the trucks needed if freight levels keep growing.”
Prior to 2018, Class 8 truck orders only topped the 40,000 mark five times. It’s happened eight times this year alone.
