FTR Reports Preliminary North American Class 8 Net Orders for March Exceed 40,000 for Sixth Consecutive Month

FTR reports preliminary North American Class 8 net orders for March came in at 40,800 units, a record sixth consecutive month exceeding the 40,000-unit threshold.  March orders were down 9% m/m but up more than 33,000 units than the pandemic-impacted March 2020.   Class 8 orders now total 372,000 units for the past 12 months.


Significantly more trucks are needed to handle the impressive freight growth generated by the economic recovery and government stimulus.  However, truck production continues to be substantially limited by shortages of semiconductors and various other components.  Fleets continue to order in large quantities to secure trucks for future needs.

Don Ake, vice president of commercial vehicles for FTR commented, “There is tremendous pent-up demand being generated due to the constrictions on supply. The pressure in the market is building, as orders continue to flow into OEMs at a record pace. To have this level of orders roll in for half a year is impressive and unprecedented.

“The component shortages of semiconductors and other parts are causing problems throughout trucking. Fleets desperately need many new trucks right now to keep up with demand, but production throughput is being constricted. It appears the industry will be playing catch-up well into the first half of next year.

“There are no clear indications of when the supply-chain issues will be resolved. We expect computer chips to be in short supply for at least a few more months. Worker shortages at key suppliers should get alleviated some by the vaccines. The backup at the ports will also take a few months to resolve.”

Final data for March will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, email sales@ftrintel.com, or call (888) 988-1699 ext. 1.

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 three-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.

To learn more about FTR visit  www.FTRintel.com, Follow us on twitter @FTRintel and connect with us on LinkedIn! To contact FTR, call 888-988-1699 or email info@ftrintel.com.