More fleets are planning purchases of power units and trailers at a larger volume than the same period last year, according to a quarterly fleet survey.
The Q4 2011 Fleet Sentiment Report Buying Index shows a 22% improvement over the same quarter 2010. The index currently stands at 89.2. The lower index for Q4 versus Q1-Q3 is primarily a reflection of fewer fleets planning trailer orders in the next three months.
The Fleet Sentiment Report from CK Vehicle Research surveys for-hire, private and government fleet representatives quarterly to determine their short-range order plans for both power units and trailers.
The Q4 2011 FSR shows solid planned order activity, especially at larger fleet operations. A majority of fleets surveyed in October reported equilibrium between their available equipment and the amount of freight they have to haul. However, almost half continue to be limited by driver shortage issues, either to fill current seats or for any additional capacity plans.
The survey showed 52% of the respondents are planning to place power unit orders in the next months, although some of this activity may cover orders that the OEMs already have on their books, because many expect to start taking delivery within the next one to three months on these orders.
Less than a third are planning to add capacity with these orders. The majority simply are replacing aging equipment.
"Where we see a clear demarcation in who is planning orders, it's at the size of the fleet, with those operating a larger number of power units planning the most orders." The smaller fleets that are planning power unit purchases are dominated by those hauling food products.
Parked vehicles are becoming a non-issue, making up only 1% of both power units and trailers owned by fleets in the survey. About 10% of respondents have some equipment parked, but the total numbers are "pretty insignificant," according to the report. Those with a larger percentage of their inventory parked are typically smaller fleets, those associated with building trades and government fleets.
A significant number of fleets are planning purchase from multiple nameplates, mixing engine technology as well. 2010 engine technology - SCR vs. EGR -- is still not a settled issue, notes the report. A significant percentage of those surveyed remain undecided for 2010 engine choice. Some are choosing both. One respondent said he's sticking with used trucks, while another is ordering compressed natural gas engines and avoiding the issue altogether. Even among those who said they have made a choice, some are still buying nameplates with the other technology-so are still trying.
Disc brakes continue as a spec change, with other safety devices being added as well, such as roll stability control, Bendix Wingman, collision prevention and automatic traction control. Fleets continue to add disc brakes to trailers as well as to power units. Automatic tire inflation and side skirts are also being added to trailers by multiple fleets.
The FSR Index is calculated by combining the estimated size of the planned truck and trailer orders for the group reporting along with the percentage of report participants who indicate they will likely place orders.
More information about the Fleet Sentiment Report can be found at www.ckcvr.com.
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