Fleets are holding off on Class 8 truck orders because supply shortages continue to delay acceptance of 2023 bookings.
Class 8 truck orders fell in May for seasonal reasons and because manufacturers kept a tight lid on bookings.
Used truck prices continued to hit new highs each of the last six months according to ACT Research. Prices will eventually become too much of a burden for small fleets and owner-operators to bear, if they haven’t already.
“There are significant inventories of already produced vehicles where essential parts are lacking.”
Engine maker Cummins absorbed $105 million in freight costs to get microchips needed for engines during the trucking boom.
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.
Carriers are investing in new trailers over tractors during the most recent freight boom. What does this mean for capacity in the future?
U.S. Xpress’ industry forecast calls for the truckload market to experience high driver turnover, declining capacity and “overwhelming” volumes through 2021.
The last time capacity tightened to this level, capacity flooded the trucking space. Will the same outcome occur in 2020?
Preliminary orders for Class 8 trucks in June rebounded to a four-month high, following a rapid improvement in freight rates.
