The supply of Class 8 trucks continues to rise faster than demand for trucks, according to the most recent ACT For-Hire Trucking Index from ACT Research Co., LLC (ACT).
“The capacity index [supply] rose faster than the freight index [demand] for the fourth consecutive month and the tenth time in the past 12 months in December,” said Steve Tam, ACT’s vice president, commercial vehicle sector. “We have to go back to the second half of 2012 to find a comparable period of imbalance – a period marked by anemic economic growth and strong U.S. Class 8 retail sales.
“Truckers have caught on to the fact that there is excess freight hauling capacity in the market and have started curtailing their purchases accordingly. Sales are likely to continue on a downward trajectory until the oversupply of trucks is consumed.”