A robust freight market continues to be kind to truck manufacturers as North American Class 8 orders for March reached 46,300 units – the third highest month on record according to FTR.
March’s order intake was 15 percent higher than February and soared 103 percent year-over-year. Orders for the first quarter of 2018, FTR reports, were the largest totals of any quarter in history.
“The current capacity crisis may be the worst ever,” says Don Ake, FTR vice president of commercial vehicles. “Capacity is extremely tight and expected to remain this way for months. Fleets need more trucks to handle huge freight demand and continue to order trucks at record setting rates.”
With 2018 build slots filling up, some OEMs had exceptional order months as fleets scramble to lock in order slots for this year.
North American Class 8 orders for the past twelve months have now totaled 357,000 units.
“Freight growth continues to climb at a rapid rate,” Ake says. “The vibrant economy is pushing dry van and refrigerated van loads to elevated levels and renewed oil drilling is generating a tremendous amount of flatbed freight.”