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FTR’s Trucking Conditions Index for November 2021 rebounded from October due to steadier diesel prices, and firmer freight volumes and rates.
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Freight rates continued to strengthen in September, but freight volume and capacity utilization numbers were weaker, according to FTR’s Trucking Conditions Index.
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In September, trailer orders improved over 100% month-over-month to between 28,127 and 28,300 units, ACT Research and FTR reported.
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September’s Class 8 order number is not a true indicator of 2022 truck demand, FTR’s Don Ake said, because OEM are delaying entering order until the health of the supply chain improves.
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Given the ongoing kinks in the global supply chain and the rise in domestic freight demand, OEMs won’t catch up with demand until 2023, according to FTR's Don Ake. That’s why FTR’s equipment outlook calls for pent-up demand to continue into 2022 — and possibly into 2023.
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In place of FTR’s cancelled in-person 2021 Transportation Conference, FTR will host a virtual conference beginning Sept. 13.
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Economic growth and freight rates are expected to remain solid well into 2022, according to transportation analysis firm FTR, but the struggle to find drivers is expected to continue to plague the industry.
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While market conditions for carriers might have peaked, they remain strong and are forecast to remain in the double-digit positive range for the rest of the year, FTR reports.
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FTR announced that it has cancelled its 2021 FTR Transportation Conference due to concerns about the COVID-19 pandemic.
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Stronger freight rates would have pushed FTR’s Trucking Conditions Index to a third straight record, but those gains were offset by a swing in diesel prices. Still, conditions were robust.
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