Connect with us

Business

April new Class 8 truck sales up 5.2% over March

Published

on

International continues to post the best year-to-date gain over 2018. The Illinois-based OEM has sold 12,902 units this year compared with 9,372 for the same period in 2018. Pictured is the International LT Series tractor. (Courtesy: NAVISTAR)

New Class 8 truck sales in the United States continued an upward trend in April with total sales of 24,024 compared with 22,834 in March, an increase of 5.2%.

Sales during the first four months of 2019 total 86,908 units as compared with 69,479 for the same period in 2018, a hefty 25.1% increase.

Sales in April 2019 also bested April 2018 by 26.8%

While the increases seemed to indicate that total 2019 sales would top the 250,627 totaled in 2018, orders for new Class 8 trucks have been down in recent months.

The two major organizations that report on and analyze commercial vehicle data both said year-over-year Class 8 orders were down sharply in April.

ACT Research said preliminary North America Class 8 net order data show the industry booked 14,800 units in April, dropping a moderate 6.2% from March, but down 57% from year-ago April.

FTR reported preliminary North American Class 8 orders for April at 16,400 units, 52% below April 2018, noting April is the fourth consecutive month for Class 8 orders to be below the 20,000 mark and is the lowest April total since 2016.

The Western Star brand showed the biggest increase from March to April with sales of 558 in April compared with 418 in March, an increase of 33.5 percent. Kenworth was second at 19.3% with April sales of 3,755 compared with 3,147 in March; Mack was third with an 18.5% sales increase in April with 1,924 units sold compared with 1,623 in March. Mack also posted the best gain over April 2018, when it sold 1,182 units.

International continues to post the best year-to-date gain over 2018. The Illinois-based OEM has sold 12,902 units this year compared with 9,372 for the same period in 2018.

 

 

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

ATA truck tonnage index declines 6.1% in May

Published

on

ARLINGTON, Va. — American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 6.1% in May after jumping 7% in April. In May, the index equaled 114 (2015=100) compared with 121.4 in April. “As expected, tonnage corrected in May from the surprising surge in April,” said ATA Chief Economist Bob Costello. “The economy is still growing, but the recent volatility in truck tonnage fits with a broader economy that is showing more mixed signals. The good news is if you ignore recent highs and lows, tonnage appears to be leveling off, albeit at a high level.” April’s reading was revised down compared with our May press release. Compared with May 2018, the SA index increased 0.9%, the smallest year-over-year gain since April 2017. The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 119.1 in May, 1.5% above April level (117.4). In calculating the index, 100 represents 2015. Trucking serves as a barometer of the U.S. economy, representing 70.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 10.77 billion tons of freight in 2017. Motor carriers collected $700.1 billion, or 79.3% of total revenue earned by all transport modes. ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators. ATA Chief Economist Bob Costello said the drop in the tonnage index shows the economy is still growing, but the recent volatility in truck tonnage fits with a broader economy that is showing more mixed signals. (The Trucker file photo)

ARLINGTON, Va. — American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index decreased 6.1% in May after jumping 7% in April. In May, the index equaled 114 (2015=100) compared with 121.4 in April.

“As expected, tonnage corrected in May from the surprising surge in April,” said ATA Chief Economist Bob Costello. “The economy is still growing, but the recent volatility in truck tonnage fits with a broader economy that is showing more mixed signals. The good news is if you ignore recent highs and lows, tonnage appears to be leveling off, albeit at a high level.”

April’s reading was revised down compared with our May press release.

Compared with May 2018, the SA index increased 0.9%, the smallest year-over-year gain since April 2017.

The not seasonally adjusted index, which represents the change in tonnage actually hauled by the fleets before any seasonal adjustment, equaled 119.1 in May, 1.5% above April level (117.4). In calculating the index, 100 represents 2015.

Trucking serves as a barometer of the U.S. economy, representing 70.2% of tonnage carried by all modes of domestic freight transportation, including manufactured and retail goods. Trucks hauled 10.77 billion tons of freight in 2017. Motor carriers collected $700.1 billion, or 79.3% of total revenue earned by all transport modes.

ATA calculates the tonnage index based on surveys from its membership and has been doing so since the 1970s. This is a preliminary figure and subject to change in the final report issued around the 5th day of each month. The report includes month-to-month and year-over-year results, relevant economic comparisons, and key financial indicators.

 

ATA Chief Economist Bob Costello said the drop in the tonnage index shows the economy is still growing, but the recent volatility in truck tonnage fits with a broader economy that is showing more mixed signals.

Continue Reading

Business

Used truck volumes fall 14% month-over-month in May

Published

on

ACT Vice President Steve Tam said in the context of lower unit sales and rising inventory levels, the slowing price appreciation is a strong indication that demand for used trucks in waning. (Courtesy: ACT RESEARCH)

COLUMBUS, Ind. — Preliminary used Class 8 volumes (same dealer sales) fell 14% month-over-month in May, the second consecutive sequential drop, according to the latest preliminary release of the State of the Industry: U.S. Classes 3-8 Used Trucks published by ACT Research. Additionally, the report indicated that longer-term comparisons yielded a 22% decline compared to May 2018, as well as a year-to-date drop of 16%.

Other data released in ACT’s preliminary report included year-over-year comparisons for May 2019, which showed that average prices rose 5%, while average miles shed 1%, and average age increased 7%.

“A spring slowdown is not uncommon, and sales generally increase a bit in the summer, but with the headwinds in the freight market, that is unlikely,” said Steve Tam, vice president at ACT Research. “Those who watch the industry closely have been expecting the strong pricing environment to soften this year, and based on preliminary May data, it appears as though that transition may have started.”

Tam said in the context of lower unit sales and rising inventory levels, the slowing price appreciation is a strong indication that demand for used trucks in waning. Given a similar story in the freight market, the development makes sense.

ACT’s Classes 3-8 Used Truck Report provides data on the average selling price, miles, and age based on a sample of industry data. In addition, the report provides the average selling price for top-selling Class 8 models for each of the major truck OEMs – Freightliner (Daimler); Kenworth and Peterbilt (Paccar); International (Navistar); and Volvo and Mack (Volvo).

ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasting services for the North American and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. More information can be found at www.actresearch.net.

For more information about ACT’s Used Truck reports, visit www.actresearch.net.

 

 

Continue Reading

Business

T.J. O’Connor named chief operating officer of YRC Worldwide

Published

on

YRC Worldwide is the holding company for a portfolio of less-than-truckload (LTL) companies including Holland, New Penn, Reddaway and YRC Freight, as well as the logistics company HNRY Logistics. (Courtesy: YRC WORLDWIDE)

OVERLAND PARK, Kan. — YRC Worldwide has promoted T.J. O’Connor to chief operating officer effective immediately. O’Connor will report to YRC Worldwide Chief Executive Officer Darren Hawkins and will continue to serve as president of YRC Freight.

“T.J. has a strong track record of delivering operational results throughout his career at Roadway Express, Reddaway and YRC Freight,” Hawkins said. “With our network optimization initiative, combined with the recently ratified five-year labor agreement that offers new operational flexibilities, this is the time to bring T.J. into the role of COO. His new position will help us drive performance objectives through enterprise-wide process improvement and accountability initiatives at all of our coast-to-coast terminal locations.”

T.J. O’CONNOR

“This is a great opportunity to lead our terminal-based field teams as we collectively focus on service improvements and achieving operational efficiencies while operating with the highest degree of safety,” O’Connor said. “Throughout my three-and-a-half-decade career in the less-than-truckload industry, I have worked closely with many of our field employees. I’ve seen their dedication and commitment firsthand. I look forward to working with the Holland, New Penn, Reddaway and YRC Freight teams in this new role.”

The YRC Worldwide COO position recently held by Darren Hawkins has been vacant since Hawkins was named CEO of YRC Worldwide in April 2018. As referenced during the YRC Worldwide May 8, 2019, first quarter earnings call, Scott Ware was named chief network officer of YRC Worldwide. Ware leads the YRC Worldwide network solutions, linehaul and property teams.

T.J. O’Connor has over three-and-a-half decades of experience in the transportation industry. His career in transportation began at Roadway Express. O’Connor assumed positions of increasing responsibility at Roadway Express, ultimately being named Western Division vice president. O’Connor went on to be named president of Bestway Express and then president of Reddaway. He became president of YRC Freight in January 2018.

O’Connor supports advancements in the transportation industry by serving on the board of directors of SMC3, a provider of data, technology and education as an integrated solution to the freight transportation community. He also provides leadership via community service. He has served as a member of The Robert W. Franz Leadership Cabinet of the Providence Cancer Center, a world-recognized organization engaged in the fight against cancer. O’Connor has served in various committee leadership roles for the California Trucking Association, Oregon Trucking Associations and the American Trucking Associations.

 

Continue Reading

Trending