“The pressure is on fleets to add capacity to keep up with a robust freight market,” said Don Ake, FTR vice president of commercial vehicles.
An all-time record was set in the third quarter with 146,800 Class 8 orders, FTR said, adding that September Class 8 order activity was the 10th-best month ever, but with most of 2018 hitting all-time highs, was only the 5th-highest monthly volume this year.
FTR said sturdy freight growth continues to strain industry capacity and fleets are placing orders a year out to secure new truck availability throughout 2019
“The economy is surging right now, putting stress on shippers to find trucks to deliver goods on time. Fleets don’t want to be stuck in the same situation next year, so they are placing huge orders for trucks well ahead of time,” Ake said.
FTR said North American Class 8 orders for the past 12 months have now totaled 497,000 units.
“The focus now turns to the supply chain,” Ake said. “Parts and component suppliers have struggled to keep pace with the growing OEM builds this year. Demand, as indicated by the surge in orders, will be even stronger next year. It is uncertain if suppliers can meet this challenge, as they compete for workers and materials in a vibrant economy.”
Brokerage Compliance Symposium
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
F3 Awards Dinner
The night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
F3: Future of Freight Festival
Industry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The day before F3. Every compliance issue you face - fraud exposure, carrier liability, FMCSA rules, cargo theft, insurance gaps - navigated by attorneys and operators defining best practices in a changing industry.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowThe night before F3. FreightTech100 companies honored. FreightTech 25 and Shipper of Choice winners revealed live. Cocktail reception into dinner and live music - 300 industry leaders in one purpose-built room.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register NowIndustry-defining keynotes, rapid-fire technology demos, and industry leaders networking in experiences across Chattanooga - plus the inaugural F3 Awards Dinner featuring the FreightTech and Shipper of Choice reveals.
The Signal at Chattanooga Choo Choo • Chattanooga, TN Register Now