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According to ACT Research, May’s net U.S. trailer orders of 3,107 units were a much-needed improvement from April, but still remained below May 2019’s numbers by 71%.
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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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With all 50 states relaxing COVID-19 shutdown orders to various extents, trucking shipments and rates are heading back up – but don't expect a true recovery until 2021.
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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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As stay-at-home orders in response to the COVID-19 pandemic took hold across much of the country in the latter part of March, the level of freight available – and the rates to haul it – plummeted. This means many of the smallest companies that make up the vast majority of motor carriers are seriously hurting.
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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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Used Class 8 truck sales improved 4% month-over-month in January, but sales were down 1% year-over-year compared to January 2019.
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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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The latest reports from ACT Research show improvement in for-hire freight volumes, but also a slide in the Freight Rate Index in December and a slight improvement in the economic outlook for 2020.
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Preliminary reports indicate trailer orders for December were down from the previous month and significantly down from the same time last year, according to ACT Research and FTR estimates.
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