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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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North American Class 8 orders took another plunge in April to an unprecedented level of 4,000 units, according to new reports from FTR and ACT Research.
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A new index provides visibility on the state of the trucking market as anticipation of an economic restart grows.
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According to FTR’s projections for its Trucking Conditions Index, a combination of drastic declines in freight volumes, utilization, and rates due to the COVID-19 pandemic could lead to the worst overall trucking conditions on record during the second quarter of this year.
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FTR’s COVID-19 Impact Heatmap has been updated to show truck load data in the spot market, providing state-level impacts on truck load volumes for four equipment types: dry van, refrigerated, flatbed, and specialized.
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According to a recent report from FTR, preliminary trailer orders for March are still being impacted by the COVID-19 pandemic, falling 54% from February to 6,500 units for the month.
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Class 8 truck orders plummeted in March to their lowest readings in a decade, at a level half of what it was a year ago, according to preliminary numbers from FTR and ACT.
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