As the trucking industry slowly reduces its overall capacity, OEMs are cutting back production. Class 8 truck availability, both new and used, is decreasing.
In this video interview, Steve Tam, VP at ACT Research, outlines the current state of the Class 8 market.
New truck demand is waning as the for-hire recession persists and economic uncertainty hinders further investment. The slow pace of new truck orders also reduces the number of used trucks entering the market. In June, used Class 8 equipment saw its first year-over-year price increase in over two years.
Editor Jeremy Wolfe joined the FleetOwner team in February 2024. He graduated from the University of Wisconsin-Stevens Point with majors in English and Philosophy. He previously served as Editor for Endeavor Business Media's Water Group publications.
