115 days ago • Posted by Martin Boujol
December Class 8 Truck orders were the 4th highest in history
With 50'900 units ordered, December 2020 was the month with the largest amount of Class 8 truck orders in history, down 2% month over month, but up 153% year over year. This surge in bookings reflects a higher demand in consumers goods. A combination of driving schools being clause as well as more drivers failing drug tests make for higher per-mile freight rates. JPMorgan expects a production of 250'000 units in 2021, a 17% increase year over year. One danger ahead though: if the Covid-19 vaccines prove to be successful and that the sanitary situation gets better, we might see a switch from consumers goods to services. In this case though, fleets could cancel or retime orders.
Source: ACT Research, J.P. Morgan, www.zerohedge.com