Freight Transportation Research Associates (FTR) released their data on new Class 8 truck sales for November 2020 on December 2nd. We predicted the numbers would stagnate and be approximately equal to those found in October, at around 40,100. To say the very least, we were wrong.
FTR reports preliminary data that says that North American Class 8 net orders hit 52,600 in November 2020, a 31% increase from October, which was a 26% increase from September, which was a 55% increase from August. The truck manufacturing industry is on a hot streak.
To compare, the sales are three times larger than it was a year ago in November 2019.
Don Ake, vice president of FTR, commercial vehicles, repeats what he has been saying for many months now: the trucking industry is making up lost ground for shrinking early on in the COVID-19 pandemic.
“The Class 8 market is trying to rebalance after suffering through woeful order numbers early in the pandemic. The huge November orders mean that Q4 will be a fabulous one, regardless of what comes in for December and that portends well for the expected increase in production early next year.”
This is the part where we give our estimates for next month, for whatever that is worth. We clearly have been incorrect before.
Our prediction for December is similar to the one we had for November: the numbers will be in the approximate range of 52,600 sales. This would indicate stagnation in demand, but at 52,600 sales, which is one of the highest months on record, that would hardly be a bad thing at all.
If you want to contribute to the sales, we at TopMark Funding can get you the financing you need. Read below to learn more.
CORONAVIRUS [COVID-19] UPDATES AND ARTICLES
- Trucker’s Guide to When Every State is Reopening
- FMSCA Extends Hours of Service Relief Declaration
- How Truck Drivers Can Keep Their Cabs Clean During COVID-19
- International Roadcheck Delayed Over COVID-19 Fears
- Pennsylvania Reopens (Some) Rest Stops
- Truck Dealers Seek “Essential Status”
- Navistar And Paccar Halt Production
- Mack And Volvo Suspend Truck Production
- Fmcsa Expands Its COVID-19 Response
ABOUT TOPMARK FUNDING
TopMark Funding is a top-rated semi-truck financing and equipment financing company located in Roseville, CA. We specialize in commercial trucking and heavy equipment. Our mission is to become your long-term financial partner by helping you grow your trucking business and fleet.
We’re not here for the short-term, we’re on the long-haul with you!
Learn more about Semi-Truck Financing
Fill out the contact form or give us a call at (866) 627-6644. One of our truck financing specialists will contact you as soon as possible to go over your truck lease needs and learn more about you and your business financing goals.