Equipment demand likely to fade into year end
The silver lining: vocational truck demand remains strong.
ACT Research says half of all commercial vehicles will be zero emissions by 2040
By 2027, eight states will have joined California in adopting Advanced Clean Trucks, resulting in moderate growth in adoption rates.
Used truck sales uncharacteristically high in August
Compared to July, average retail price increased 1%, while miles and age both declined 1%.
August Class 8 truck orders the best month since February
This represents the highest monthly performance since February and the third consecutive month with orders exceeding 20,000 units.
Trucking industry forecasts move higher following rising economic expectations
Vieth’s explained that while a better economic forecast is beneficial, it won’t completely solve the challenges within the industry’s capacity issues.
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.
Class 8 truck orders bounce back in May
Medium-duty orders surged in the month of May.
Chinese truck market demand began reversing downward trajectory in Q4’22
Medium truck and heavy tractor volumes remained under pressure in the year’s final quarter.
January used truck retail volumes jumped 24% M/M
The gain was facilitated by a slew of new truck sales at the end of 2022.
Used Class 8 truck sales for 2022 total 245,000
Total Class 8 used truck market sales for 2022 were down about 7.5% from 2021.
November used truck average retail price negative Y/Y
The average retail used truck price has descended into negative y/y territory for the first time since August 2020.
ACT Research: For-Hire Trucking Index a mixed bag
The latest release of ACT’s For-Hire Trucking Index, showed August volume flat and productivity down, with the Supply-Demand Balance and capacity rising marginally. Kenny Vieth, president and senior analyst, ACT Research, commented, “While Volume Index flatness m/m reflects the difficult freight environment, August’s number remains above the June/Q2 dip and reflects diminished but wage-supported underlying economic
