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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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FTR has released the COVID-19 Impact Heatmap, which assesses the state-level rate impacts by four trucking equipment types – dry van, refrigerated, flatbed, and specialized – using Truckstop.com spot market data.
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The U.S. economy was rocked today by shocking numbers of 3.3 million people filing unemployment claims for the first time, but the worst is still to come for trucking.
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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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FTR said its Trucking Conditions Index in December was the highest since January 2019 and the first positive reading since 0.28 in July.
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