Rush Enterprises Inc., the largest dealer network of commercial vehicles in North America, reported lower earnings and higher sales in the third quarter. But the company warned that a glut of used trucks is causing faster-than-normal depreciation and is hurting sales.
Trailer orders in September were the highest since February, suggesting another strong year of production in 2020.
The impact of a United Auto Workers’ strike at Mack Trucks will nearly double next week when Volvo Trucks North America lays off about 3,000 employees because of a lack of engines and transmissions that come from a Maryland plant the companies share.
Preliminary Class 8 retail sales for September set an all-time record, but large fleet deliveries likely inflated the results that erased the previous record set in December 2006. Meanwhile, the backlog of trucks waiting to be built is falling, which is leading to layoffs..
Preliminary September orders for Class 8 trucks improved over August but remained stagnant as fleets delayed booking new equipment in the face of ongoing trade tensions slowing swaths of the manufacturing economy.
Used truck sales continue to fall but for the first time since January 2018, so are the prices asked for them.
After a record year for orders in 2018, fleets and dealers are holding back on placing many new trailer orders, a situation that analysts say could improve in the fourth quarter.
Preliminary used Class 8 truck sales fell for the 10th consecutive month in August as used trucks hit the market in bigger numbers because of new truck deliveries from record orders placed in the latter half of 2018.
Class 8 truck manufacturers are beginning to pare production as the backlog of record orders from 2018 shrinks and new orders continue to be slow.
Class 8 truck orders fell again in August as fleets stayed on the sidelines while taking delivery of a record number of heavy-duty trucks ordered in 2018.
The engine displacement in Class 8 commercial tractors is expected to drop in coming years as stricter federal emissions standards take effect in the next decade.
The on-again, off-again trade war between the U.S. and China is a great threat to commercial vehicle forecasts, already buffeted by too many trucks and slowing freight growth.
Payback for a record run of new trailer orders last summer continued in July with fewer than 10,000 new orders placed, a dramatic drop from the same month in 2018. Typical during summer months, low orders suggest a possible return to normal order patterns after an overheated second half in 2018.
The rise and fall of interest in natural gas trucks typically depends on the price of oil. Now, the availability of clean energy credits in California and tougher NOx rules expected from the California Air Resources Board are additional reasons for purchase.
July heavy-duty truck orders were the lowest since 2010, more evidence of a trucking sector recession taking hold.
Ryder Systems Inc. posted strong second-quarter revenue but reduced its second-half earnings guidance on weakness in used truck sales and rentals.
The average price of a Class 8 used truck sold in June was $48,800, up 6 percent compared to June 2018, according to the latest report by ACT Research.
Trailer orders hit their lowest level in nearly a decade in June, mirroring the slowdown in new truck orders after record performances for both in 2018.
ACT Research says the trucking industry meets the definition of being in a technical recession as all major metrics it tracks have declined for two consecutive quarters.
Class 8 truck orders rose sightly in June from May’s figures, but posted their worst first six months of the year since 2010.
Sales of used trucks in the Class 8 market plummeted 22 percent in May compared with the same month a year earlier, and dropped 8 percent from the previous month.
Preliminary used truck sales in the heaviest weight segment – Class 8 – dropped 22 percent in May compared with the May 2018.
Preliminary used truck sales in the heaviest weight segment – Class 8 – fell 13 percent in April compared with the same month a year earlier.
Amazon has broken ground on its Kentucky air hub, which will bring 2,000 jobs and up to 100 planes to the area.
March orders for new trucks in the medium-duty weight segment dropped 32 percent compared with the same month in 2018.
March orders for new trucks in the heaviest Class 8 weight segment plummeted 66 percent compared with the same month in 2018.
The average price of a Class 8 used truck sold in February was $48,173, nearly 15 percent higher than the same month a year ago when trucks were selling for $41,995, according to ACT Research.
Freight levels have dropped from last year, but panelists at the ACT Research conference this week said they have simply returned to more normal levels.
It’s been about 50 years since a truck maker has successfully entered the Class 8 market in North America and lasted, said Dominik Beckman, director of marketing and dealer operations for Hino Trucks. So what makes Hino think it can do that now?
ACT Research is forecasting 335,000 truck orders in 2019, but a sharp dropoff in 2020.
Rate increases are slowing and could even turn negative later this year, although fleet profits should remain strong for much of the year.
There are plenty of conflicting data points on the direction of the economy, which might suggest that everything may be just fine in the near term.
Truck trailer orders dropped for the third straight month in February.
Nothing is certain except death and taxes. And, apparently, vehicle recalls.
January new truck orders have fallen 26 percent from December, continuing a trend that has developed after record-breaking months last year.
Used truck pricing and volumes posted big gains in 2018 as a combination of factors, including a booming economy and limited availability of new trucks played a role.
The numbers year-on-year are still way up, but there’s been a definite sign of some slowdown.
How much of the strength is pre-tariff purchases? How much of the talk of weakness is “on the other hand” economics?
Deutsche Post DHL Group (XETRA: DPW) has taken a new approach to recruiting driving in Europe: offering to rotate them out of driving roles. Following a record-setting September, fleets continued to order trailers at near-record rates in October.
If the trucking market is nearing a peak, it isn’t showing up in the order books of truck OEMs.
North American Class 8 net orders came in around 42,800 units in September, falling 19 percent from August’s 53,069 units, according to preliminary data released by ACT Research.
Total trailer net orders came in at over 38,000 units in August, representative of a 31 percent increase month-over-month and a staggering 142 percent increase year-over-year.
It also marks the sixth time in eight months NA Class 8 net orders topped 40,000 units, according to ACT Research.
Cashflow Corner presented by TriumphPay …There may never be a better time to replace your current truck, and while It may not be a new one, a low mileage, high-quality used truck could also provide a big tax benefit.
The monthly numbers of ACT and FTR on class 8 builds set new records; a Goldman Sachs report tries to measure the number of scrubbers that will be used for meeting IMO2020 standards.
ACT Research’s preliminary estimate for July net trailer orders came in at 29,300 units, making last month the strongest July in industry history.
So much for the summer doldrums. New truck orders, which typically take a dip in the summer months as both carriers and OEMs reset for the fall, hit a new all-time high in July, according to the latest data from ACT Research.
North American Class 8 truck orders have soared to an all-time high, according to preliminary data from May.
Truck sales, indices, stock price projections: all are looking bullish
What exactly is going on with all these truck orders? ACT Research reported that January Class 5-8 preliminary orders came in at a surprising 80,400 units. Class 8 orders alone accounted for 48,700 units, their best month since March 2006.
