Class 8 Orders Steady for July 2021
Trailer orders might have ended their 2021 year-over-year increase streak in June, but the Class 8 big rig market is still going strong in July 2021. ACT and FTR have the estimates.
Truck Sales July 2021
ACT Research pins the number at 25,800 units sold in the month; FTR, 26,500. The order numbers are ever so slightly down from June 2021, about a 1% difference, but are still more than 20% higher than the numbers both companies provided for July 2020.
Don Ake of FTR reiterates that this boon of truck sales cannot last forever.
“It is estimated that supply of trucks is falling approximately 25% behind market demand,” he said. “We are running out of time for OEMs to catch up. Most of the unproduced orders will roll into the first quarter of 2022. If those months are already booked solid, it creates even more headaches for the industry. Things won’t approach any degree of normalcy for months. Until semiconductors begin flowing into the OEMs in sufficient qualities, we will be playing catch up.”
FTR also updated its rolling twelve-month total to 394,000 units sold.
Conclusion
August 2020 was only slightly above sales for July 2020, so the chances of Class 8 truck sales exceeding it in August 2021 are exceptionally high. With looming inflation due to a dearth of components and finished trucks, it is possible that the market will bottom out, but it is incredibly unlikely considering other factors in the industry such as record freight rates.
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