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After a record low of -28.66 this past April, FTR’s Trucking Conditions Index jumped to a historic high to 11.35 for June, the highest in a decade.
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According to both ACT Research and FTR, preliminary North American Class 8 net orders jumped to around 20,000 units in July. This 27-28% increase effectively doubled the amount of trucks sold in July 2019.
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While FTR’s Trucking Conditions Index reading for May made a comeback from a “worst-ever” level in April to a reading of -5.19, it is still not doing well from a historical perspective.
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Improvements in industrial production and housing may help drive a truck freight recovery, but spikes in COVID-19 cases in many parts of the country and questions about what Congress may or may not do leave a lot of uncertainty in the forecast, according to analysts at FTR.
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The COVID-19 pandemic continues to affect all aspects of the industry, and while one conference is going virtual, another has decided to move forward with an in-person meeting.
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FTR’s April Trucking Conditions Index dropped to its lowest level ever at -28.66, reflecting the effects of the COVID-19 pandemic.
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May orders for Class 8 trucks, while up significantly from the dismal April levels, were still down nearly 40% compared to last year, according to preliminary figures from ACT Research and FTR.
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March’s Trucking Conditions Index (TCI) of -8.69 is just the start for industry, according to FTR, which predicts it will lead to the worst quarter on record.
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Trucking conditions likely bottomed in mid-April, but a speedy recovery isn’t anticipated, according to FTR.
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According to preliminary reports from both FTR and ACT Research, trailer orders for April have dropped to a historic low.
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