CCJ Indicators rounds up the latest reports on trucking business indicators on rates, freight, equipment, the economy and more.
North American Class 8 truck orders fell a whopping 60 percent in November from the same month last year, according to preliminary figures released last week by FTR.
Net orders totalled 16,475 in the month, the lowest point since September 2012. FTR says the numbers were “significantly below expectations.”
FTR says orders should be better the next two months, though “not necessarily good,” the firm said.
“The November orders are very concerning,” said FTR’s Don Ake. “People were optimistic when orders held up well during the summer. Now we get into the peak order season and have the lowest orders of the year. The weak orders are the reason for the recent OEM announcements regarding production cutbacks and layoffs. Truck inventories are high and retail sales have stalled. The industry would appear to have enough new trucks for now. The manufacturing sector has sputtered and freight growth has slowed. Orders should stabilize soon, but backlogs will be shrinking, necessitating larger production cuts than were previously expected.”