Three separate reports from transportation research firm ACT Research show positive signs in the truck and trailer buying markets.
First, new Class 8 truck orders topped 20,000 for the fifth month in a row in February, eclipsing the 23,000 mark for the month. February was the first month in the last 14 to show year-over-year growth.
Used truck orders in February “found solid footing,” says ACT, after a shaky January. Both retail and wholesale markets saw growth in volumes. ”
“It is interesting to note that mileage and age of used trucks did not move in sync in February,” says ACT’s Steve tam, VP of its Commercial Vehicle Sector. “Typically milage and age move in tandem, but in February mileage increased month over month while average age decreased. Prices, more often than not, move in the opposite direction.”
Lastly, trailer orders in February — though down from January — remained strong enough to maintain the manufacturing backlog. Orders in the month started softly but picked up in the second half.
New trailer orders topped 20,000 units, an 8 percent drop from January.