Class 8 truck orders Archives - Page 2 of 7

Loaded and Rolling: Freight market downturn turns 1 year old

6 April 2023

Freight market downturn turns 1 year old

(Source: FreightWaves SONAR)

It has been just over a year since Craig Fuller, CEO and founder of FreightWaves, wrote an article titled “Why I believe a freight recession is imminent,” published March 31, 2022, in which he predicted the U.S. trucking market was heading toward a significant downturn.

Fuller noted the reaction in a follow-up article published Monday: “At first, there was a great deal of vitriol aimed at the FreightWaves analysis and also...

https://www.freightwaves.com/news/loaded-and-rolling-freight-market-downturn-turns-1-year-old

March Class 8 truck orders reset to normalized demand

4 April 2023

The ups and downs of Class 8 truck orders appear to be returning to a normalized pattern with manufacturers sitting on a healthy backlog of trucks to build.

Nearly all build slots are filled for 2023. That prompted slower order activity of 19,000 units in March, FTR Transportation Intelligence reported Tuesday.

Reduced order levels will continue through the summer, historically a weaker period for bookings. That normalcy was upended during the pandemic. Lower year-over-year orders in five of the...

https://www.freightwaves.com/news/march-class-8-truck-orders-reset-to-normalized-demand

Why Class 8 truck orders are outperforming shaky economy

3 March 2023

Class 8 truck orders in February outperformed what tracking firms expected, suggesting fleets still have money for new equipment.

It was the first time in the last five months that year-over-year orders came in higher. The industry hit a near record in September and then retreated.

“Over the past year, total net orders reached 303,000 units. In any market, this is a strong number,” Eric Starks, chairman of FTR Transportation Intelligence, said in a news release. “However, given the uncertainty in...

https://www.freightwaves.com/news/why-class-8-truck-orders-are-outperforming-shaky-economy

Loaded and Rolling: Cargo thefts surge 15% in 2022; LMI January data

9 February 2023

Cargo thefts surge 15% in 2022

(Graphic: CargoNet)

FreightWaves’ Noi Mahoney reports that, according to CargoNet data, a surge in cargo thefts near the end of 2022 led to an estimated $223 million in goods being stolen across Canada and the U.S.

Regarding who’s committing most of the cargo thefts, organized crime takes the top spot. Scott Cornell, transportation lead and crime and theft specialist at Travelers, said nine out of 10 cargo thefts are committed by an organized crime group. The top...

https://www.freightwaves.com/news/loaded-and-rolling-cargo-thefts-surge-15-in-2022-lmi-january-data

Class 8 truck orders take a timeout in January

4 February 2023

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Class 8 truck orders fell year over year in January for the first time since August, but OEMs...

https://www.freightwaves.com/news/class-8-truck-orders-take-a-timeout-in-january

Daimler Truck CEO calls for strong Class 8 market in ’23

5 January 2023

Class 8 trucks orders in queue look healthy heading into the new year even as a September order record resulted in lower but still solid bookings in the last three months of 2022.

“The demand that we saw out there for ’22 that none of us were able to build, that will continue in ’23,” John O’Leary, president and CEO of Daimler Truck North America, told FreightWaves. “They’re very committed to make those buys this year regardless of what the economic headwinds may look like.”

The average age of...

https://www.freightwaves.com/news/daimler-truck-ceo-calls-for-strong-class-8-market-in-23

Class 8 truck orders — nowhere to go but down

6 December 2022

Class 8 truck orders posted a respectable 33,000 units in November. But they fell for a second consecutive month after record bookings in September. Supply chain issues, growing backlogs and a slowing economy are likely to prevent big monthly orders in the near term.

Orderbooks are fully open. Pent-up demand for new equipment remains strong. And carrier profitability creates a willingness to spend on equipment, said Eric Crawford, ACT Research vice president and senior analyst.

“We continue to...

https://www.freightwaves.com/news/class-8-truck-orders-nowhere-to-go-but-down

Class 8 truck orders set monthly record in September

5 October 2022

Months of accepting only a trickle of heavy-duty orders turned into a torrent in September as Class 8 truck manufacturers fully opened orderbooks, resulting in a preliminary net order record of 53,700 units, ACT Research reported.

“September Class 8 orders were sensational no matter how you slice the data,” said Eric Crawford, ACT Research senior analyst. The industry booked 249,000 Class 8 orders over the last 12 months.

September historically is when manufacturers begin filling build slots for...

https://www.freightwaves.com/news/class-8-truck-orders-set-monthly-record-in-september

Class 8 bookings rebound in August as OEMs crack open orderbooks

6 September 2022

Month-over-month orders for Class 8 trucks nearly doubled in August. But fleets are still not getting all the new equipment they want, even in a slowing economy.

FTR reported preliminary North American Class 8 net orders for August jumped 98% over July to 21,400 units as OEMs began to fill build slots for the first quarter of 2023. But caution remains to avoid a repeat of late-2021 cancellations due to overbooking colliding with supply shortages.

“OEMs felt the need to start filling in their Q1...

https://www.freightwaves.com/news/class-8-bookings-rebound-in-august-as-oems-crack-open-orderbooks

Loaded and Rolling: Independent contractor legal battle; the hidden costs of compliance

10 August 2022

Legal battle over trucking independent contractors

The trucking owner-operator business model is getting more legal challenges. The 7th U.S. Circuit Court of Appeals overturned a lower court decision in May 2021 that ruled in favor of Schneider’s contract terms, creating a situation where an owner-operator is effectively an employee based on its interpretation of the Fair Labor Standards Act.

The suit, filed in July 2020 by Eric Brant, claimed he was effectively...

https://www.freightwaves.com/news/loaded-and-rolling-independent-contractor-legal-battle-the-hidden-costs-of-compliance

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