Photo: Vitpho/Dreamstime
Black Semi Highway Vitpho Dreamstime 5ff7798d03397

Class 8 orders end 2020 on a high note

Jan. 8, 2021
With December activity remaining at an extremely high level, FTR reports that the trucking industry has soaring momentum rolling into the new year.

Preliminary Class 8 net orders in North America for December continued at an extremely high level at 52,100 units, FTR Intel reported. December 2020 order activity was the fourth highest ever and just 700 units fewer than November, up 169% over a year ago. Class 8 orders for 2020 totaled 283,000 units.

“The Class 8 market ended the most challenging year with a bang,” commented Don Ake, vice president of commercial vehicles for FTR. “To get two back-to-back order months over 50,000 is a stellar accomplishment, after previously seeing orders crater to under 5,000 units in April. Now, 2021 has the potential to be an incredible recovery year.

The industry has soaring momentum rolling into 2021, as freight growth is robust, freight rates are elevated, and fleet profits keep rising. Consumer-based freight remains vibrant and there are indications that manufacturing activity is finally beginning to accelerate.

“As the economy continues to improve, fleets are showing increasing confidence about business conditions in 2021,” Ake added. “Profits are more than sufficient to replace used trucks and freight growth is stimulating expansion demand. Put those dynamics together, and the industry is headed toward a robust year.

“Everything right now is headed strongly in a positive direction. Consumer goods remain vibrant. The manufacturing sector is showing definite signs of strength after struggling last year. The second stimulus will pump more money into the economy and accelerate the recovery. The vaccine is expected to get more people back to work and provide an economic boost. And the fleets are responding to this wave of good news by ordering trucks in near-record numbers. After being slowed significantly by the pandemic, the Class 8 market is roaring ahead at a rapid rate.”        

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Is your fleet ready for California's Clean Truck Check program? Our guide helps you navigate CARB compliance, avoid costly fines, and keep your trucks rolling. Learn how telematics...
Boost truck leasing profits with telematics insights! Reduce maintenance costs, improve uptime, and strengthen customer relationships. Learn how data drives success.
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
Ready to boost fleet efficiency by up to 50%? Learn how AI-powered dispatch and next-gen tech are transforming TMS workflows, improving driver planning, and streamlining operations...