Truck orders fall in June
July 23, 2012
After a small uptick in May, orders for U.S. and Canadian class 8 trucks returned to its slowdown in June, dropping for the fifth time in the last six months. Net orders fell 11.2% from the prior month and the year-over-year declines continued, down 25.6%. June orders of 12,700 represent the lowest level since September 2010 – which was just prior to the runup in order activity that culminated in the April 2011 figure of nearly 33,000 units ordered. Year-over-year declines have been modestly negative except for a one month drop of over 50% in April when we have overlapped the 2011 surge in orders.
Analysis
Orders remained below the 15,000 level for the third straight month. These are weak volumes and signify that the industry is not intent on adding capacity and is once again focusing merely on replacement of units. The weakness in freight that we had during 2011 is finally affecting the equipment market and it is unlikely to turn around quickly. The summer is always the weakest order period of the year, but that doesn’t fully explain the weak order levels. We expect softer orders over the next several months.
The slowdown in orders has only now started to impact truck manufacturers – and they continue to build too many vehicles relative to demand. Hence, new truck inventories remain elevated. What this means is that a larger than normal amount of inventory is being put on the truck dealer lots. They have curbed their production plans for the third quarter but additional cutbacks are likely in late 2012 or early 2013.
- Source: FTR Associates’ OEM Market Indicator Database
- The graphed data is for U.S. and Canadian truck orders only
- The market indicator data includes all major North American truck builders.
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Upgrade to a Premium MemberRecent Indicators
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September 5, 2012
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September 27, 2012
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Refrigerated
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September 27, 2012
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July 25, 2012
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May 31, 2012
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Flatbed
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September 27, 2012
Flatbed loadings up 0.4% in June
July 25, 2012
Flatbed loadings up 0.6% in May
July 5, 2012
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May 31, 2012
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Tank
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September 27, 2012
Tank loadings jump 1.1% in June
July 25, 2012
Tank loadings unchanged in May
July 5, 2012
Tank loadings jump in April
June 4, 2012
Tank loadings dip in March
May 3, 2012
Bulk / Dump
Bulk/dump loadings jump 1.3% in July
September 27, 2012
Bulk/dump loadings down 0.6% in June
July 25, 2012
Bulk/dump loadings up 0.2% in May
July 5, 2012
Bulk/dump loadings up in April
June 4, 2012
Bulk/dump loadings drop sharply
May 3, 2012
Automotive loadings fall 2.7% in July
September 27, 2012
Bulk aggregates loadings up 1.1% in July
September 27, 2012
Construction loadings improve in July
September 27, 2012
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September 27, 2012
Food loadings up 0.5% in July
September 27, 2012
Dry Van
Dry van rates are easing but still strong
April 25, 2012
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September 1, 2011
Dry Van rates are improving, should be strong this fall
June 7, 2011
Refrigerated
Refrigerated rates remain relatively stable
May 3, 2012
Growth in refrigerated rates remains stable
September 1, 2011
Reefer rates are growing, outlook is slightly less robust
June 7, 2011
Flatbed
Flatbed rates stay strong to start 2012
April 25, 2012
Flatbed rates are staying strong
October 5, 2011
Flatbed rates continue to remain strong
July 18, 2011
Tank
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September 8, 2011
Tank rates have been weak, finally growing
May 11, 2011
Bulk / Dump
Intermodal
Intermodal rates slowed during 2011
June 12, 2012
Intermodal rates are staying strong
October 5, 2011
Intermodal rates accelerated during Q2
August 31, 2011
Intermodal rates have eased recently, but will stay strong
July 11, 2011
Intermodal rates remain strong, ready to surge
May 11, 2011
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