Truck procurement has been a major challenge for many private fleets and for-hire carriers this year. This challenge has been emphasized by the backlog of orders for Class-8 heavy-duty trucks, largely stemming from an American economy that has been healthy and resilient ever since the Great Recession ended in 2010, and a dilapidated industry philosophy toward truck procurement that is now changing. According to the latest truck orders data, preliminary North American Class-8 orders for August—typically a weak order month—topped the historic records set in July. FTR Transportation Intelligence reported 52,400 units were ordered in August; ACT Research reported Class-8 orders at 53,100.
As a result, orders for trucks are now up 153 percent year-over-year. What’s more, six of the top 12 order months on record happened in the first eight months of 2018. The heated economy means that more companies are shipping goods across the country; more businesses are in need of re-stocking shelves and inventory; more consumers are in need of goods ordered online and thus the transport of those shipments; and as a result, trucks are working overtime.
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