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September order activity is further testimony that there remains a tremendous level of pent-up demand for Class 8 trucks, FTR officials said.
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Is the U.S. in a recession? The usual measures of the country's economic health have been rendered unreliable by the continued fallout from the COVID-19 pandemic. Two experienced trucking analysts share what they're seeing in the numbers.
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North American Class 8 net orders for August jumped 98% month-over-month to 21,400 units, according to FTR.
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Fuel and financing costs and freight rates caused a decline in the trucking market in June.
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Sharp increases in diesel prices during May offset slightly improved freight market conditions for carriers.
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What do inflation, inventories, employment numbers, freight rates and more mean for trucking's outlook?
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OEMs are working to increase Class 8 truck build rates, however key components remain in short supply and continue to limit production.
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FTR's Trucking Conditions Index from April and the Cass Transportation Indexes for May identify trends such as job growth and economic conditions that could point to a weakening after a nearly two-year cycle of surging freight volumes.
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FTR's Avery Vise explores how trucking employment, truck order backlogs, fuel prices, motor carrier failures, and the attack on the independent contractor model all tie together.
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"The prevailing theme in trucks is largely unchanged: Long backlogs and supply-chain constrained production continue to keep new orders trending within a narrow range.”
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