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FTR’s COVID-19 Impact Heatmap has been updated to show truck load data in the spot market, providing state-level impacts on truck load volumes for four equipment types: dry van, refrigerated, flatbed, and specialized.
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According to a recent report from FTR, preliminary trailer orders for March are still being impacted by the COVID-19 pandemic, falling 54% from February to 6,500 units for the month.
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Class 8 truck orders plummeted in March to their lowest readings in a decade, at a level half of what it was a year ago, according to preliminary numbers from FTR and ACT.
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FTR has released the COVID-19 Impact Heatmap, which assesses the state-level rate impacts by four trucking equipment types – dry van, refrigerated, flatbed, and specialized – using Truckstop.com spot market data.
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The U.S. economy was rocked today by shocking numbers of 3.3 million people filing unemployment claims for the first time, but the worst is still to come for trucking.
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Preliminary reports from both ACT Research and FTR show that North American Class 8 orders for February fell 18-20% from January. Both reported a total drop of 14,100 units.
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FTR said its Trucking Conditions Index in December was the highest since January 2019 and the first positive reading since 0.28 in July.
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Barring the unexpected, trucking can generally expect flat to moderate growth in demand and rates in 2020, with most of the growth in the second half of the year.
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North American Class 8 orders for January are down month over month but up year over year, according to both FTR and ACT Research. Following a consistent trend over the last four months of averages of 19,000 trucks, January totals dropped to 17,700 units. ACT reports show a similar drop in medium-duty.
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Weaker spot rates are mainly to blame for a dip in the latest FTR Trucking Conditions Index, which tracks the industry via freight volumes, freight rates, fleet capacity, fuel price, and financing
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