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FTR Reports Preliminary North American Class 8 Net Orders for August Continue to Climb - Reaching 20,500 Units

09.02.20 | FTR



FTR reports preliminary North American Class 8 net orders continued to climb in August, reaching 20,500 units for the month. August order activity was very consistent with July, up 3% m/m, and up 90% y/y. Class 8 net orders for the last 12 months now total 177,000 units.  
 
Large fleets continue to buy new trucks according to their replacement cycles, with a few orders going towards expansion purposes. Orders are expected to stay in the 20,000 range for the next few months with buyer confidence increasing as the economy recovers and freight volumes rise. There is less uncertainty regarding the pandemic as businesses and consumers adapt to the current environment.

Click here to view the latest release and an interactive graph of the Class 8 Truck Orders >


Don Ake, FTR vice president commercial vehicles commented, “This is another positive sign for Class 8 trucks. This is the second consecutive 20,000-unit month and proves that the July total was not a fluke, with a possible trend developing. Fleets are more confident, yet it is still mostly larger fleets purchasing replacement trucks. Medium-sized and smaller fleets remain cautious about ordering trucks.
 
“This is an odd situation. We are in a highly uncertain, yet very stable, environment. You have a pandemic, a presidential campaign, and social unrest all occurring at the same time. However, the economy is briskly recovering and generating ample freight. Fleets are ordering only what they need, and thus, orders are aligning very closely to production rates.
 
“We can expect orders to track in the current range until those risk factors are resolved. Right now, the market is in a holding pattern and may stay there through the rest of the year.”

Final data for August will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.
 
 

To contact FTR, send an email to [email protected] or call (888) 988-1699 ext. 1 and follow us on Twitter @FTRintel.

The full Class 8 Truck data is available as part of FTR's North American Truck & Trailer Outlook service.


Click here to view a sample report >


About FTR
For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.
 
FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information www.FTRconference.com