Analysts are projecting another record-breaking month for Class 8 truck orders in August, according to preliminary numbers.
Used truck prices stayed relatively flat in July but remained at favorable levels compared with the same month a year ago, according ACT Research.
While the average price of used Class 8 trucks was flat in June compared to the previous month, they have risen 15% over last year.
There is currently more demand than supply for heavy-duty trucks, which is impacting several vocational fleet industries including retail and food service.
Preliminary orders of Class 4-8 trucks increased in June, with Class 8 trucks crossing the 40,000-unit level for the fourth time in six months and medium-duty orders increasing to 26,400 units in a month that's typically weak for Class 5-7 vehicles, according to ACT Research.
Class 8 truck orders saw another bump in May but bottlenecks in the supply chain have kept production numbers constrained.
May was another strong month for new Class 8 truck orders as fleets work to keep up with increased demand in a tight capacity environment.
XPO Logistics announced plans to invest around $90 million in 770 new tractors for its less-than-truckload fleet in 2018.
Early reports are showing that heavy-duty truck orders likely dropped as much as 12,000 units from March to April, but despite that being the largest single-month decline since 2011, analysts are still calling the market for Class 8 equipment hot.
Truck orders in the first quarter of 2018 hit the second highest mark in history and mark the best period for orders since 2006, according to ACT Research.