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Class 8 truck orders in North America hit a 14-month high in November 2023, indicating a strong replacement equipment demand despite a slow freight market.
In November 2023, Class 8 truck orders in North America reached a 14-month high, defying the sluggish freight market, with 41,700 units ordered, surpassing both the previous month and year-over-year figures. This surge, the highest since September 2022, suggests a "solid rather than stellar" outlook for 2024, according to ACT Research. The rising backlogs indicate a strong demand for replacement equipment despite the overall weak freight market. FTR Transportation Intelligence reported a slight year-over-year increase in orders, attributing the trend to replacement demand stabilization for 2024. Industry leaders like Paccar Inc.'s CEO note strength in vocational, medium-duty, and LTL markets, signalling an optimistic view for the upcoming quarters.
Source: Freight Waves
Class 8 truck orders continued to outpace the sluggish freight market with November orders surpassing 40,000. It was the best month since September 2022 on a seasonally adjusted basis.https://t.co/lomoBYXZuh
— FreightWaves (@FreightWaves) December 5, 2023
Source: FreightWaves
Bad carriers are gaming the weigh station system. Plus, C.H. Robinson's own engineer goes scorched earth on Reddit, the Ghost Truck Act gets roasted, and more in today's newsletter.
Plus, STG's path out of bankruptcy, Wyoming's "Truck Around and Find Out" operation, what "phantom capacity" means for Mexico lanes, and more in today's newsletter.
Plus, a cabless autonomous truck just raised $24M, non-domiciled CDLs rules need clarifying, CSX posts a 26% profit jump while watching the UP-NS merger closely, and more in today's newsletter.
Plus, USPS gives non-domiciled CDL carriers an 11-day deadline, the spot-to-contract spread starts squeezing 3PLs, Knight-Swift trims its Q1 guide but stays bullish, and more.
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