Data from ACT Research reports the potential for limited interest rate increases.
Volume was down 24% from $11.3 billion in October. Year-to-date, cumulative new business volume was up 6% compared to 2021.
At 30,300 units, December Class 8 orders show a positive progression moving into the new year.
Longer term, average price and miles were higher y/y, with age up 7% y/y.
Aside from a large increase in diesel prices during the month, shippers’ market conditions were more positive m/m.
Volumes softened to the lowest levels seen since March and April of 2020.
The latest from FTR’s State of Freight online press conference.
The average retail used truck price has descended into negative y/y territory for the first time since August 2020.
Cautious optimism is the theme as we move into 2023.
The October TCI was the weakest since the all-time low reading of -28.66 in April 2020.
Freight hauling and specialty trucks saw their market shares decrease.
Class 8 truck builds exceed plans.