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Driver costs, equipment costs, insurance costs, travel and food costs may have longer-term legs of reducing the purchasing power of your budget, says HDT's Contributing Economic Analyst Jeff Kauffman.
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As OEMs race to keep up with new truck demand and full order books, it’s possible the trucking industry could again log record order volumes when the OEMs open orders for 2022.
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Penske, Schneider and U.S. Xpress are among the first wave of customers to reserve the autonomous International LT Series.
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The supply of new trucks remains restrained due to supply chain delays, therefore carriers continue to order at healthy rates to secure new equipment by year’s end, FTR officials said.
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While significantly more trucks are needed to handle freight growth, truck production continues to be limited by shortages of semiconductors and various other components, FTR reports.
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Preliminary North American Class 8 net orders were 44,000 units, up 4% compared with January orders, FTR reported.
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North American Class 8 order numbers in January were between 42,200-42,800 units, down between 17% and 18% from December.
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Despite the record plunge in new-truck orders during the spring COVID-19 pandemic shutdowns, orders of Class 5 through 8 trucks closed out 2020 in near-record territory.
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According to separate ACT Research and FTR reporting, October’s preliminary North American Class 8 orders jumped to 38,900 units and 40,100 units, respectively.
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Class 8 orders surged in September to the highest since October 2018, as a stronger than expected economic and freight recovery is giving fleets more confidence and spurring equipment orders.
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