New truck orders reach ‘unprecedented’ levels, but it may not help capacity
Truck owners are ordering big rigs as fast as they can in order to recruit new drivers, acquire new technology, reach better fuel efficiencies and boost capacity — but even that may not be enough to absorb the high demand from shippers, according to an analyst note by Mizuho Securities.
July figures show demand for new trucks is significant. Net orders for Class 8 trucks stand to date at 301,000 units, which represents a nearly 106% year-over-year increase, and the 31,000 trucks produced in July 2018 alone are 36% greater than last year's figures. However, the backlog for these deliveries also rose 153% from the same month last year.
But the high equipment expenses do not necessarily translate to either growing capacity or lower prices in the forecast.
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