Truck Orders Up Substantially as Economy Continues to Grow

Net orders for the Class 8 trucks that keep the economy in motion were “phenomenal” in October, FTR Associates reports, nearly breaking an all-time record. The preliminary data shows October Class 8 truck net orders at 45,795 units making October the second highest order month ever recorded, orders rising 87 percent month-over-month and 76 percent year-over-year. Those orders are for trucks to be built and delivered in 2015, underscoring the economic confidence of the companies placing the orders. After two strong quarters of freight demand and higher rates, motor carriers are beginning to add capacity, good news for shippers having an increasingly hard time hiring trucks and paying more for them when they do. Large trucking companies, both truckload and less-than-truckload, still have capacity levels at least 15 percent lower than in 2006.
(Source: JOC Newswire)