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Last year, 2020, was a train wreck and 2021 got off to a pretty interesting start. What's ahead in 2021, or in the four years to come of the Biden administration? HDT's editorial team of Deborah Lockridge, David Cullen, Jack Roberts and Jim Park cast a relieved eye back at 2020 and wary eye ahead at 2021.
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How did publicly traded trucking fleets perform financially as the roller-coaster year of 2020 headed back uphill in the third quarter?
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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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ACT Research said that while overall trailer orders in the U.S. fell off in November, the market segment remains strong overall.
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Truck tonnage in November was up compared to October but down year over year, according to the American Trucking Associations.
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FTR is reporting that its Trucking Conditions Index for October 2020 literally went off the charts to the highest reading the research firm has ever recorded.
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The huge increases in freight volume since the economic contraction are slowing, but the trucking industry still looks to see a strong 2021 in terms of both demand and rates.
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Both ACT Research and FTR report robust Class 5-8 truck orders in November.
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When we drilled into third-quarter GDP to look at the segments of the economy linked to freight demand, the results far exceeded our forecast.
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A drop in the American Trucking Associations' truck tonnage numbers in October could be another sign that the economic recovery is slowing, but it also may be a case of seasonal trends thrown off by the pandemic.
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