The freight recession continues to bump along the bottom, with the spot market continuing to be battered by overcapacity amidst freight demand that is somewhat improved but still soft.
HDT 2023 Fact Book: Class 8 Truck Orders and Backlogs Among Key Equipment Concerns
Heavy- and medium-duty truck production improved in 2022 and OEMs were building at full capacity in 2023. The exit of some smaller fleets increased the availability of used Class 8 trucks as well during 2023.