The Cass Freight Index sees sequential weakness in shipments but logs year-over-year improvement with expenditures data advancing.
Heavy-duty trucks with collision avoidance, emergency braking and other safety technologies are beginning to enter the used truck market, potentially making the roads safer as older trucks are retired.
Preliminary Class 8 truck orders in November were the third highest in history as fleets anticipating steady freight demand locked up build slots in 2021.
The trend of improving used truck sales stalled in October. But year-over-year price gains are holding up. Added capacity could be a problem if pandemic shutdowns slow freight demand.
Concern over the supply chain for wood and aluminum components to build new trailers adds to consumer goods-driven demand that pushed equipment orders over 50,000 for a second straight month in October.
Preliminary Class 8 truck orders in North America reached a two-year high in October with more than 40,000 reservations.
Increased freight volume and higher carrier profits always drive Class 8 truck demand. The circumstances in 2020 differ from 2018’s tax cut-driven boom, but reasons for the surge are identical.
All stakeholders are experiencing used truck momentum despite and because of the lingering pandemic.
Cash from higher spot rates and replacement orders led September Class 8 truck orders to their highest monthly total since October 2019
Pulled along by improving orders for new Class 8 trucks, demand for late-model heavy-duty used trucks continues to swell.
