www.trucknews.com Open in urlscan Pro
2600:1f11:793:c400:388d:9ffb:d11:3b02  Public Scan

Form analysis
3 forms found in the DOM

GET https://www.trucknews.com

<form class="header__search__form" role="search" method="get" action="https://www.trucknews.com">
  <label class="visually-hidden" for="s">Search for:</label>
  <input type="text" value="" name="s" id="s" placeholder="Search">
  <button type="submit" id="searchsubmit">
    <svg width="18px" height="18px" viewBox="0 0 18 18" version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" style="background-color: #0058a9">
      <g id="Symbols" stroke="none" stroke-width="1" fill="none" fill-rule="evenodd">
        <g id="organisms-/-main-navigation" transform="translate(-1468.000000, -45.000000)" fill="#000">
          <path
            d="M1480.502,51.491 L1479.708,51.491 L1479.432,51.765 C1480.407,52.902 1481,54.376 1481,55.991 C1481,59.581 1478.09,62.491 1474.5,62.491 C1470.91,62.491 1468,59.581 1468,55.991 C1468,52.401 1470.91,49.491 1474.5,49.491 C1476.115,49.491 1477.588,50.083 1478.725,51.057 L1479.001,50.783 L1479.001,49.991 L1483.999,45 L1485.49,46.491 L1480.502,51.491 L1480.502,51.491 Z M1474.5,51.491 C1472.014,51.491 1470,53.505 1470,55.991 C1470,58.476 1472.014,60.491 1474.5,60.491 C1476.985,60.491 1479,58.476 1479,55.991 C1479,53.505 1476.985,51.491 1474.5,51.491 L1474.5,51.491 Z"
            id="Mask" transform="translate(1476.745000, 53.745500) scale(1, -1) translate(-1476.745000, -53.745500) "></path>
        </g>
      </g>
    </svg>
  </button>
</form>

GET https://www.trucknews.com

<form class="header__search__form" role="search" method="get" action="https://www.trucknews.com">
  <label class="visually-hidden" for="s">Search for:</label>
  <input type="text" value="" name="s" id="s" placeholder="Search">
  <button type="submit" id="searchsubmit">
    <svg width="18px" height="18px" viewBox="0 0 18 18" version="1.1" xmlns="http://www.w3.org/2000/svg" xmlns:xlink="http://www.w3.org/1999/xlink" style="background-color: #0058a9">
      <g id="Symbols" stroke="none" stroke-width="1" fill="none" fill-rule="evenodd">
        <g id="organisms-/-main-navigation" transform="translate(-1468.000000, -45.000000)" fill="#000">
          <path
            d="M1480.502,51.491 L1479.708,51.491 L1479.432,51.765 C1480.407,52.902 1481,54.376 1481,55.991 C1481,59.581 1478.09,62.491 1474.5,62.491 C1470.91,62.491 1468,59.581 1468,55.991 C1468,52.401 1470.91,49.491 1474.5,49.491 C1476.115,49.491 1477.588,50.083 1478.725,51.057 L1479.001,50.783 L1479.001,49.991 L1483.999,45 L1485.49,46.491 L1480.502,51.491 L1480.502,51.491 Z M1474.5,51.491 C1472.014,51.491 1470,53.505 1470,55.991 C1470,58.476 1472.014,60.491 1474.5,60.491 C1476.985,60.491 1479,58.476 1479,55.991 C1479,53.505 1476.985,51.491 1474.5,51.491 L1474.5,51.491 Z"
            id="Mask" transform="translate(1476.745000, 53.745500) scale(1, -1) translate(-1476.745000, -53.745500) "></path>
        </g>
      </g>
    </svg>
  </button>
</form>

POST https://www.trucknews.com/wp-comments-post.php

<form action="https://www.trucknews.com/wp-comments-post.php" method="post" id="commentform" class="comment-form" novalidate="">
  <p class="comment-form-comment"><label for="comment">Comment <span class="required">*</span></label> <textarea id="comment" name="comment" cols="45" rows="8" maxlength="65525" required=""></textarea></p>
  <p class="comment-form-author"><label for="author">Your Name</label> <span class="required">*</span><input id="author" name="author" type="text" value="" size="50"></p>
  <p class="comment-form-email"><label for="email">Your Email</label> <span class="required">*</span><input id="email" name="email" type="text" value="" size="30"></p>
  <p class="comment-form-cookies-consent"><input id="wp-comment-cookies-consent" name="wp-comment-cookies-consent" type="checkbox" value="yes"><label for="wp-comment-cookies-consent">Save my information for next time</label></p>
  <div class="c4wp_captcha_field" style="margin-bottom: 10px;" data-nonce="8c4d5a0e04">
    <div id="c4wp_captcha_field_1" class="c4wp_captcha_field_div rendered">
      <div style="width: 304px; height: 78px;">
        <div><iframe title="reCAPTCHA" width="304" height="78" role="presentation" name="a-3pxlv3z23kze" frameborder="0" scrolling="no"
            sandbox="allow-forms allow-popups allow-same-origin allow-scripts allow-top-navigation allow-modals allow-popups-to-escape-sandbox allow-storage-access-by-user-activation"
            src="https://www.google.com/recaptcha/api2/anchor?ar=1&amp;k=6LfovwAVAAAAAI-npz6mKwMm8lFhQ_aPWo1txB2u&amp;co=aHR0cHM6Ly93d3cudHJ1Y2tuZXdzLmNvbTo0NDM.&amp;hl=en&amp;v=u-xcq3POCWFlCr3x8_IPxgPu&amp;theme=light&amp;size=normal&amp;cb=eu9bxfw6gdkj"></iframe>
        </div><textarea id="g-recaptcha-response" name="g-recaptcha-response" class="g-recaptcha-response"
          style="width: 250px; height: 40px; border: 1px solid rgb(193, 193, 193); margin: 10px 25px; padding: 0px; resize: none; display: none;"></textarea>
      </div><iframe style="display: none;"></iframe>
    </div>
  </div>
  <p class="form-submit"><input name="submit" type="submit" id="submit" class="submit" value="Submit"> <input type="hidden" name="comment_post_ID" value="1003180900" id="comment_post_ID">
    <input type="hidden" name="comment_parent" id="comment_parent" value="0">
  </p>
  <p style="display: none;"><input type="hidden" id="akismet_comment_nonce" name="akismet_comment_nonce" value="8ccf813139"></p>
  <p style="display: none !important;"><label>Δ<textarea name="ak_hp_textarea" cols="45" rows="8" maxlength="100"></textarea></label><input type="hidden" id="ak_js_1" name="ak_js" value="1704706903024">
    <script>
      document.getElementById("ak_js_1").setAttribute("value", (new Date()).getTime());
    </script>
  </p>
</form>

Text Content

Skip to content

     
 * Subscribe

Search for:
>
     
 * News
 * Products
 * Opinion
 * In Depth
 * Business Tips
 * Events
 * Video
 * Careers
 * Digital Archive
 * Test Drives
 * Truck Tips
 * Sustainability
 * Top 100

 * French

 * Subscribe Navigation Circle
   * Newsletter
   * Magazine

Search for:


 * News
 * Products
 * Opinion
 * In Depth
 * Business Tips
 * Events
 * Video
 * Careers
 * Digital Archive
 * Test Drives
 * Truck Tips
 * Sustainability
 * Top 100

>
News  / Business Management
 * 
 * 
 * 
 * Email
 * Print page.


ECONOMIC TRUCKING TRENDS: LESS CLASS 8 DEMAND, LOWER USED TRUCK PRICES AND
STRONGER RATES

by James Menzies January 5, 2024 @JamesMenzies

As we close the books on 2023, we see Class 8 orders weaken but close out a
strong year with healthy demand and a historically strong run rate.

Used truck prices in the U.S. plummeted to levels not seen since April 2021,
with prices down 6% in November from the previous month.

But truckers who kept on trucking during the final week of the year were
rewarded with a surge in spot market volumes, at least in van and reefer
segments.




CLASS 8 ORDERS END YEAR ON WEAK NOTE, CONCLUDE STRONG YEAR

Class 8 truck orders slid to end 2023, according to preliminary data from
industry forecasters. FTR reported orders of 26,620 units for the month, down
26% from November levels and 6% year over year.

But it says the lower tally falls in line with seasonal tendencies. Orders for
the year came in at 253,000 units, and OEMs continue to take orders at a
“healthy rate,” the company reported.

“Despite the slight year-over-year decrease in orders in December, the market is
still performing at a high level historically,” said FTR chairman Eric Starks.
“Even as the freight markets have been weak for an extended period, fleets are
still ordering equipment. Order levels were above the historical average but
continue to follow seasonal trends, reinforcing our expectations for replacement
demand in 2024.”

ACT Research took a somewhat dimmer view of the numbers, reporting 26,500 units.

“After a strong and upside-surprising November, Class 8 orders surprised in the
opposite direction in 2023’s last report,” said Kenny Vieth, ACT’s president and
senior analyst. “With the largest seasonal factor of the year, seasonal
adjustment pushes December’s intake sharply lower, to 20,900 units. The
full-year 2023 Class 8 order tally fell 7% year over year to 278,500 units.”

Regarding medium-duty performance, Vieth added: “Classes 5-7 net orders were an
identical 26,500 units in December, up 53% against a very easy year-ago comp.
Unlike Class 8, medium-duty seasonality is modest in December, lowering the
seasonally adjusted order tally to 25,200 units, up 4.6% from November, and the
best month of the year on both a nominal and seasonally adjusted basis. For all
of 2023, Classes 5-7 orders were 245,700 units.”


USED TRUCK PRICES PLUMMET

We don’t normally report U.S. used truck pricing trends here, since Canadian
buyers tend not to buy from the U.S. market. However, there is some correlation
between pricing north and south of the border and it’s notable that used truck
prices in the U.S. plummeted in November to levels not seen since April 2021.



ACT Research reports used Class 8 truck prices fell 6% on the month to
US$59,300.

“Less-than-expected declines in August, September, and October may have been an
early Christmas present. Our expectations are unchanged, with lower prices
through the end of 2023 and a return to month-over-month growth toward the end
of 2024,” said Steve Tam, vice-president of ACT Research.

Regarding volumes, Tam explained, “Combined, the total market same dealer sales
volume expanded 19% month over month in November. With only one more month
remaining in the year, the overall market has improved 35% year to date compared
to the first 11 months of 2022.”


SPOT RATES SURGE TO END YEAR

The final week of 2023 was kind to truckers relying on the U.S. spot market for
loads. Truckstop and FTR Transportation Intelligence report that the week ended
Dec. 29 showed “robust” gains in broker-posted spot rates for van equipment.

It’s not unusual, however, since many truckers park their equipment for the
holidays, reducing capacity.

“The rate gains were very strong, however, even for a final week of the year,”
Truckstop reported. “The surge in refrigerated spot rates was one of the largest
on record, surpassed in at least the last decade only by the spike during the
final week of 2017.”

Dry van rates also rose more than usual for the final week of the year, while
flatbed rates pulled back more than usual for the week.

Lest you should get too excited, Truckstop hastened to add not to read too much
into the week’s strong performance. “ Because of the major disruption in
capacity during the holiday week, the strong rate increase has no bearing on how
spot rates might perform in January 2024 and beyond,” it concluded.

by James Menzies @JamesMenzies

James Menzies is editor of Today's Trucking. He has been covering the Canadian
trucking industry for more than 20 years and holds a CDL. Reach him at
james@newcom.ca or follow him on Twitter at @JamesMenzies.





HAVE YOUR SAY


This is a moderated forum. Comments will no longer be published unless they are
accompanied by a first and last name and a verifiable email address. (Today's
Trucking will not publish or share the email address.) Profane language and
content deemed to be libelous, racist, or threatening in nature will not be
published under any circumstances.



CANCEL

Comment *

Your Name *

Your Email *

Save my information for next time







Δ


RELATED POSTS


ECONOMIC TRUCKING TRENDS: LATEST DATA SENDS MIXED SIGNALS ON INDUSTRY HEALTH


ECONOMIC TRUCKING TRENDS: CLASS 8 ORDERS HOLD UP, SHIPPER CONDITIONS IMPROVE


ECONOMIC TRUCKING TRENDS: FUEL PRICES PINCHING SHIPPERS AND TRUCKERS, FLATDECK
CONTINUES TO WEIGH ON RATE RECOVERY


ECONOMIC TRUCKING TRENDS: MORE ‘ROUGH SLEDDING’ AHEAD, TRAILER ORDERS PLUNGE





TRENDING TOPICS


ECONOMIC TRUCKING TRENDS: LESS CLASS 8 DEMAND, LOWER USED TRUCK PRICES AND
STRONGER RATES


GORDIE HOWE INTERNATIONAL BRIDGE TO OPEN IN FALL 2025


CACCARO TO LEAD AHG’S TRANSPORT OPERATIONS




SIGN UP FOR OUR NEWSLETTER

Stay up to date on technology, regulations and trucking life

Join Now




SUBSCRIBE CENTRE

 * Magazine
 * Newsletter
 * Manage Subscription
 * Magazine Archives


READ OUR DIGITAL EDITION


TOPICS

 * News
 * Products
 * Opinion
 * In Depth
 * Business Tips
 * Events
 * Video
 * Careers
 * Digital Archive
 * Test Drives
 * Truck Tips
 * Sustainability
 * Top 100




CONTACT

 * Contacts
 * Accessibility


SISTER PUBLICATIONS

 * Transport Routier


ADVERTISE WITH US

 * Media Kit


FOLLOW US

 * X
 * Facebook
 * LinkedIn
 * YouTube


LEGAL

 * Privacy Policy
 * Terms of Use
 * Copyright Notice

Newcom Media Inc logo white
© 2024 Newcom Media Inc.



We use cookies to make your website experience better. By accepting this notice
and continuing to browse our website you confirm you accept our Terms of Use &
Privacy Policy.

read more >>

I Accept