For U.S. Class 8, orders averaged 40,800 units per month in 2018, but for the first half of 2019, just 14,600 per month. Similarly, U.S. trailer orders averaged 35,100 units/mo. in 2018, and have managed just 13,500 units per month in the three months ending May.
Much of the weakness in orders in the first half of 2019 is a reflection of the strength in orders in 2018 and the large, filled backlogs at the start of the year. We are just at the point where the order focus will shift to 2020, so weakness from here on out will be more indicative of future activity than the order weakness experienced year to date.
Despite the slowdown in orders and falling backlogs, demand for used equipment persists at high levels. In April 2019, average used prices were up nearly 15% from a year earlier. Strength in used equipment, like new equipment, is attributed both to strong carrier profitability tailwinds into 2019 and the rapid improvements in technology and fuel economy that have come into the fleet in the current decade.
Replacing an older truck with a fuel-efficient late model truck will help to offset falling freight rates.
As of Oct. 1, 2020, pickup trucks continued the dramatic and steady month-over-month increase in wholesale values from June to October 2020.
As of Sept. 1, 2020, pickup trucks continued the dramatic and steady month-over- increase in wholesale values from June to September 2020.
As of Aug. 1, 2020, pickup trucks saw a huge spike in wholesale values from June to July 2020.
As of July 1, 2020, average wholesale values for all model-year 2015-2017 truck classes experienced some form of increase in value, except Class 7 medium-duty.
As of June 1, 2020, all truck classes continued to experience a drop in resale values for 2015-2017 model-year units. This is the second month of decreases following the rise in all values in April 2020.
As of May 1, 2020, all truck classes experienced a dropin resale values for 2015-2017 model-year units compared with the rise each class saw last month.
Likely one of the most important tasks a fleet manager must handle is vehicle maintenance. A truck that isn’t working can’t accomplish its job; it’s a simple fact.
As of April 1, 2020, all truck classes experienced a rise in resale values for 2015-2017 model-year units.
As of March 1, 2020, we are back to a mix of increases and decreases in 2015-2017 model-year truck resale values.
The increasing maturity and stability of trucking technology start-ups is evidenced by a decline in the volume of early-stage deals in 2018.
As of Feb. 1, 2020, all 2015-2017 model-year truck classes experienced an increase in resale values. Class 8, heavy-duty trucks experienced the biggest dip in January 2020 and experienced the biggest rebound in February.
New truck registrations across the European Union grew by 3.5% last year compared to 2017.