FTR Reports Preliminary North American Class 8 Net Orders Remained in Tight Range for March at 21,500 Units
Bloomington, IN – (Trailer Technician) – FTR reports preliminary North American Class 8 net orders for March stayed within the tight range of the past several months, coming in at 21,500 units, +3% m/m and -47% y/y. Orders have varied less than 400 units a month for 2022, with March activity close to the average of 21,300 for the previous seven months. Class 8 orders have totaled 300,000 units over the last twelve months.
OEMs are content to book orders a month at a time, just under current production rates, and keep total backlogs in check. Orders are expected to hover around this range until OEMs have confidence in improved future supply chain performance. Demand for new trucks remains robust but production has been significantly restricted by shortages of semiconductors and other components. Labor shortages at the OEMs and suppliers also remain an issue.
Don Ake, vice president of commercial vehicles for FTR commented, “The March order total reflects a market frozen in place. All the OEMs are evaluating the business environment monthly and only entering enough orders to fill in about a month’s worth of production in the schedule. March’s number indicates that production levels stayed flat.
“This trend began seven months ago and has not varied much. Once supply chain issues improve, OEMs will be able to substantially increase orders. But until then, conditions remain stagnant. Several automakers recently announced computer chip supplies remain tight, but there are still expectations of supply chain improvements in the second half of the year.”
Final data for March will be available from FTR later in the month as part of its North American Commercial Truck & Trailer Outlook service. To contact FTR, email sales@ftrintel.com or call (888) 988-1699 ext. 1.
About FTR
For more than 30 years, FTR has served as the industry leader in freight transportation forecasting for the shipping, trucking, rail, intermodal, equipment, and financial communities in North America. FTR’s experts, with over 250 years of combined experience in the transportation industry, provide quantitative analysis with historical and modal-specific insights. FTR’s reports, data, commentary, and insights help clients evaluate market risks, identify new opportunities, and make informed decisions.
FTR is the only company with a complete set of freight data for all modes of transportation with detail at the 3 Digit STCC commodity level. FTR tracks and forecasts 200+ unique commodity groups both quarterly and annually using their proprietary Freight•cast U.S. freight transportation model. FTR’s Transportation Conference held annually in September in Indianapolis is a unique event bringing together every aspect of the freight transportation world into one place. For more information www.FTRconference.com
To learn more about FTR visit www.FTRintel.com, Follow us on twitter @FTRintel and connect with us on LinkedIn! To contact FTR, call 888-988-1699 or email info@ftrintel.com