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Class 8 orders surged in September to the highest since October 2018, as a stronger than expected economic and freight recovery is giving fleets more confidence and spurring equipment orders.
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While the first eight months of 2020 showed used truck pricing 17% than the previous year, the recent bump from July to August saw a 7.8% increase over 2019, according to a recent report from J.D. Power.
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ACT Research’s August For-Hire Trucking Index reported a tight trucking market fueled by ongoing volume, rate surges, and increased driver shortages.
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COVID-19 brought on the worst recession in U.S. history, but the recovery is underway and economic conditions should return to pre-COVID levels by late next year.
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According to both ACT Research and FTR, preliminary North American Class 8 net orders for August increased, climbing to 19,500 and 20,500 units, respectively.
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ACT’s For-Hire Trucking Index for last month showed an about-face from the record surge in June, falling six points to 64.3, while pricing and productivity were at 60.3 and 61.5, respectively.
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According to both ACT Research and FTR, preliminary North American Class 8 net orders jumped to around 20,000 units in July. This 27-28% increase effectively doubled the amount of trucks sold in July 2019.
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ACT’s For-Hire Trucking Index for June data is showing continued improvement, rising to 70.4 in June. This is a huge improvement from April’s 19.3 and even the jump to 50.2 a month earlier in May.
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According to ACT Research, U.S. trailer orders in June totaled 13,441 units, a more than 300% jump from May’s total of a little more than 3,100 trailers and 112% higher than June 2019’s level of around 6,200 units.
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According to ACT Research, both U.S. and Canadian Class 8 natural gas truck retail sales for the first five months of 2020 dropped 22% year-to-date over 2019, as published in its quarterly report, Alternative Fuels Quarterly.
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