Economic trends: Page 2

Report indicates September another tough month for used trucks
In this uneven economic year, the used truck market just can't get off the ground.
October 18, 2023
Used truck chart from ACT Research
Trailer orders leapt forward in September
“While this certainly is a welcome sign ... one month of robust orders does not guarantee the full year. It’s still too early in the new year order season to call,” says ACT Research's Jennifer McNealy.
October 18, 2023
US Trailer orders in September 2023
FTR delivers weak peak season outlook
Consumers are still pending even as student loan payments kick in, personal savings is down and mortgage rates are up, FTR analysts say, making a weak brew for freight's peak season.
October 12, 2023
A chart showing active truck utilization.
Outlook and Benchmarking
Class 8 forecasts amended down as recovery timetable remains elusive
Class 8 truck and trailer forecasts from ACT Research were lowered this week as recovery in freight markets remains elusive.
October 11, 2023
Numbers going up and down
Class 7-8
Seasonal boom comes to truck orders
FTR states both the month-over-month increase and the year-over-year decrease were well within expectations given that build slots have opened for 2024 production and that the market continues to normalize after last year’s exceptional order volumes.
October 4, 2023
September 2023 truck orders from FTR
Outlook and Benchmarking
Parts sales indicator falls for ninth consecutive month
CMVC's Chris Brady says "the downward trend in fleet capacity utilization indicates the rate at which the truck population is depreciating is slowing to levels dampening parts aftermarket sales below trend."
October 3, 2023
CMVC August 2023
Outlook and Benchmarking
A few takeaways from NTEA's industry market report
Last Wednesday, NTEA released the third edition of its U.S. Commercial Vehicle Market Report. For those who haven’t seen it and might not have time to read the 26-page document, here are some key takeaways.
September 26, 2023
Vehicle chassis being assembled by two technicians
Used trucks
J.D. Power: Class 8 pricing slips in August
The number of trucks up for auction with missing titles, unverified mileage and other issues is increasing, J.D. Power says.
September 21, 2023
A graphic from J.D. Power showing the number of trucks retailed per dealership rooftop.
Used trucks
Used equipment values still have 'some room to fall'
It might get worse. Speaking during a Used Truck Association (UTA) webinar Thursday, Black Book's Josh Giles says the loss in used equipment values that began last year has possibly not hit rock bottom.
September 21, 2023
Overhead view of many trucks
Outlook and Benchmarking
ACT Research offers bearish look at 2024
"With spot freight rates still soft and contract rates remaining under pressure, the forecast for carrier profits is continued weakness before incomes begin to expand again in [the second quarter of] 2024," says ACT Research President Kenny Vieth.
September 20, 2023
ACT Class 8 truck backlog to build ratio
Outlook and Benchmarking
NTEA releases updated Commercial Vehicle Market Report
“Navigating market and business challenges and opportunities is something our industry organizations do day in and day out,” says NTEA's Kevin Koester. “As an Association, we value the opportunity to serve these companies by sharing data.”
September 20, 2023
NTEA's Commercial Vehicle Market Report headline
Trailers
Trailer orders showed little change in August
“Demand may be softening, but it’s not gone. The next few months should provide more illumination on the 2024 outlook, as orders move from the current negotiation stage into booked business.”
September 18, 2023
ACT August 2023 trailer orders
Used trucks
'Uncharacteristically large' boost to used truck sales in August
"The uncharacteristically large improvement this month is likely a reflection of the increased availability of units at more attractive prices," says Steve Tam, ACT vice president.
September 14, 2023
Line of trucks on a summer day
Class 7-8
Research firms: Class 8 orders up for August
"As build slots start to open for 2024 production, fleets are starting to place orders on the books," says Eric Starks, chairman of the board for FTR.
September 6, 2023
A fever chart showing Class 8 truck sales in 2022 and 2023.
Used trucks
Used truck sales slipped across the board in July
ACT Research announced Thursday in its latest state of the industry used truck report that Class 8 used retail sales slipped for the first time in three months in July, falling 7.8% month over month.
August 31, 2023
ACT Research used truck chart
Outlook and Benchmarking
Softening on the horizon, experts say, but recession still an unknown
“The economy is still expanding but there are two things we worry about,” Dr. Bob Dieli says. “Signs of instability and the Fed is in a bad mood. We expect the Fed to continue to be in a bad mood for a little while.”
August 23, 2023
Bumpy road with potholes
Freight demand
FTR: Trucking Conditions Index shows weakness for carriers
"For-hire trucking companies have already faced the longest period of consistently unfavorable market conditions since the Great Recession," says FTR Vice President of Trucking Avery Vise.
August 23, 2023
A fever chart showing negative conditions in the trucking industry.
Used trucks
Used market sees stable auction, falling retail pricing in July
Auction volumes were down and held pricing well last month while the retail sector saw pricing slip considerably after a better June, J.D. Power reported Monday in its August 2023 Commercial Truck Guidelines report.
August 17, 2023
Used truck on the highway
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Finalists named for ATD's 2024 Truck Dealer of the Year
The American Truck Dealers (ATD), Trucks, Parts, Service and Procede Software are pleased to announce the nominees for the 2024 Truck Dealer of the Year. There are seven dealers up for the 2024 award.
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Used trucks
Late-model depreciation gently slowing for used trucks
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Alternative power
How electric trucks may transform dealer revenue streams
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