FTR reports preliminary North American Class 8 orders for March at 46,300 units, helping Q1 to become the largest quarter of truck orders in recorded history.
In releasing its preliminary Class 8 order data Monday, FTR reported March orders were 15 percent above February and up 103 percent year-over-year. FTR states the orders again exceeded expectations as demand for trucks are at record levels. Fleets are attempting to add capacity as fast as possible in a dynamic market. Some OEMs had exceptional order months as fleets scramble to lock in order slots for this year.
North American Class 8 orders for the past twelve months have now totaled 357,000 units, FTR says.
“The current capacity crisis may be the worst ever. Capacity is extremely tight and expected to remain this way for months. Fleets need more trucks to handle huge freight demand and continue to order trucks at record setting rates. OEM 2018 build slots are quickly filling up,” says Don Ake, vice president of commercial vehicles.
“Freight growth continues to climb at a rapid rate. The vibrant economy is pushing dry van and refrigerated van loads to elevated levels and renewed oil drilling is generating a tremendous amount of flatbed freight,” adds Ake.
FTR states final data for March will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service.