Trailer Orders Disappoint in September; Used Class 8 Sales Fall 11% M/M
OCT 27, 2016 - 6:10 am
New and net trailer orders significantly disappointed in September, conflicting with a seasonally-anticipated double-digit gain. Net orders posted were 12,993, marking the lowest volume since August 2010, according to ACT Research.
“September’s weakness is further indication of fleet reticence toward equipment investment,” said Frank Maly, director of CV transportation analysis and research at ACT. “The current environment of low freight rates and uneven freight volumes, along with over-capacity resulting from a long run of equipment purchases, is not conducive to short-term capex commitments.”
In addition, ACT reported that used Class 8 truck same dealer truck sales fell 11% month-over-month in September. The drop reversed a growth trend that started in February. The average price of used Class 8 trucks rose 1% month-over-month while remaining steadily lower in the long term.
“All three market segments posted weaker volumes, with declines across all three time comparisons,” said Steve Tam, ACT’s vice president. “The retail market segment fared the best, marking only a 1% decline month-over-month, while the auction and wholesale markets took the biggest hits, falling 45% and 25% month-over-month, respectively.”
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