FTR reports preliminary North American Class 8 orders for March, at 46,300 units, which is the third highest month on record, 15% above February and up 103% year over year. Orders for first quarter 2018 were the largest totals of any quarter in history.
March 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 OEM’s 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 totalled 357,000 units.
Don Ake, vice president of commercial vehicles commented, “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.”
“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.”