Used Class 8 sales high in May amid economic, freight environments
Tam concluded that even though the economy, freight conditions are currently weak, the comparison emphasizes the circumstances faced in 2022.
Freight market rebalances as cycle nears turning point
Destocking likely peaked recently, with March container imports down 30% y/y, versus April’s decrease of 20% y/y and signs of further improvement in May.
U.S. freight cycle near bottom
Elevated Class 8 build rates will limit the near-term upside.
US trailer industry demand dynamic is shifting
Trailer cancellations rise for consecutive months, signaling shifting demand dynamics.
Used truck same dealer retail sales improved 10%
Combined, the used truck industry saw preliminary same dealer auction, retail, and wholesale sales advance 19% m/m.
Class 8 backlog on downward trajectory until 2024 orderboards open
Heavy-duty and medium-duty retail sales saw double-digit growth, while Class 8 vehicle backlog is expected to decline until 2024.
Analysts forecast slight increases in Class 8 retail sales, production volumes
According to Vieth, the commercial vehicle industry is approaching a downward inflection point amid weak freight creation and declining pent-up demand.
Class 8 truck orders bounce back in May
Medium-duty orders surged in the month of May.
For-Hire Trucking Index shows continued declines in April
Although the current situation still indicates a loose balance, the necessary conditions for a future rebalancing have been established.
U.S. trailer industry order boards for 2023 fully open, nearly fully committed
Overall build was 13% lower m/m due to four fewer build days in April than in March.
U.S. freight cycle near bottom as capacity begins to tighten
“Total revocations were about 10,800 in April, near record levels, though grants and reinstatements are also elevated.”
April heavy-, medium-duty truck orders fell
Crawford highlighted that medium-duty demand only declined y/y by single digits, a change of pace compared to the previous two months.