FTR reports preliminary North American Class 8 orders for October at 43,000 units, surpassing 40,000 units for a record eighth month in a row. October 2018 orders were the 10th best ever; 2% above a strong September and 19% better than a year ago. Fleets continue to order a record number of trucks to secure remaining build slots in 2019. Freight volumes are now expected to be healthy well into the second half of 2019, keeping capacity utilization at extremely tight levels for an extended period. North American Class 8 orders for the past twelve months have now totaled 504,000 units.
Don Ake, FTR vice president of commercial vehicles, commented, “October is traditionally the start of the next year’s order season, so to see strong numbers now is not surprising. But ordering for 2019 began in July with back-to-back record months. For orders to still be this hefty in October after that is remarkable.
“Fleets want to make sure they have access to new trucks, as the growing economy continues to stretch capacity. They continue to place a record number of orders to ensure they will have the trucks needed if freight levels keep growing.
“Months exceeding 40,000 Class 8 trucks had been a rare occurrence, only happening five times before 2018. However, October is the eighth month of forty-plus orders this year. Activity may start to fall off soon, as available build slots in 2019 diminish.”
Final data for October will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, e-mail email@example.com, or call 1-888-988-1699, Ext. 1.
For more than two decades, FTR has been the thought leader in freight transportation forecasting in North America. The company’s national award-winning forecasters collect and analyze all data likely to impact freight movement, issuing consistently reliable reports for trucking, rail, and intermodal transportation, as well as providing demand analysis for commercial vehicle and railcar. FTR’s forecasting and specially designed reports have resulted in advanced planning and cost-savings for companies throughout the transportation sector.