The story is clear: sales of all U.S. trucks has trended up for most of the year, new and used.
Fleets ordered 41,800 new trucks in the month of June, making last month the busiest June on record. OEM stock prices rose on the news, and their order backlogs continued to lengthen.
North American Class 8 truck orders have soared to an all-time high, according to preliminary data from May.
New truck orders in May have doubled YOY; Navistar takes $50M in profits in Q2; the Permian Basin is out of workers; coal export volumes by rail are better than expected; air freight rates up 22% YOY; housing prices expected to outstrip inflation and wage growth.
Used truck prices strengthen; trailer orders go crazy; Arizona suspends Uber self-driving; Canadian National trades at 52-week lows; aftermath of Harvey still affects Houston tanker traffic; Philadelphia freight market is heating up.
Truck orders and tonnage both posted strong gains in January suggesting there is no immediate end coming to the good times.
What exactly is going on with all these truck orders? ACT Research reported that January Class 5-8 preliminary orders came in at a surprising 80,400 units. Class 8 orders alone accounted for 48,700 units, their best month since March 2006.
New truck orders jumped in January, reaching their second highest level on record, according to data from FTR and ACT Research.
Mexico’s ambassador to the United States told CBS News there is a 50% chance that the end result of NAFTA negotiations will be termination of the trade pact.
According to ACT Research, preliminary North America Classes 5-8 net order data show the industry booked 58,800 units in December, bringing the full-year net order tally to 543,400. That is an 11% improvement over November and 35% above December 2016.
