Saturday, August 18, 2018 8:43:23 AM
Trump 'Boom' Sparks Record-Breaking Backlog Of Big Rigs
Thanks to strained manufacturing supply chains and a booming economy, an unprecedented run of orders for new big rigs has nearly doubled the backlog at truck factories to nine months, according to the Wall Street Journal, citing industry analysts.
North American freight-haulers ordered over 300,000 Class 8 trucks through July of this year, and are on track to order a record 450,000 of the heavy-duty haulers for the full year, according to ACT Research. The surge in demand would be the largest since 2004, when orders reached 390,000.
North American fleets ordered over 52,000 trucks alone in July, an all-time monthly record, in an effort to keep up with swelling demand amid a booming economy and a shortage of drivers.
The orders are coming at a rapid pace as more U.S. companies, from construction equipment makers to retailers, say rising transportation costs and tight truck capacity are crimping their ability to grow and slicing into profit margins. Cass Information Systems Inc., which processes freight payments, says its monthly index of U.S. trucking costs rose more than 10% in July, the first double-digit year-over-year increase in the 13 years of the measure. -WSJ
More at the link
https://www.zerohedge.com/news/2018-08-17/record-breaking-backlog-big-rigs-largest-14-years
Thanks to strained manufacturing supply chains and a booming economy, an unprecedented run of orders for new big rigs has nearly doubled the backlog at truck factories to nine months, according to the Wall Street Journal, citing industry analysts.
North American freight-haulers ordered over 300,000 Class 8 trucks through July of this year, and are on track to order a record 450,000 of the heavy-duty haulers for the full year, according to ACT Research. The surge in demand would be the largest since 2004, when orders reached 390,000.
North American fleets ordered over 52,000 trucks alone in July, an all-time monthly record, in an effort to keep up with swelling demand amid a booming economy and a shortage of drivers.
The orders are coming at a rapid pace as more U.S. companies, from construction equipment makers to retailers, say rising transportation costs and tight truck capacity are crimping their ability to grow and slicing into profit margins. Cass Information Systems Inc., which processes freight payments, says its monthly index of U.S. trucking costs rose more than 10% in July, the first double-digit year-over-year increase in the 13 years of the measure. -WSJ
More at the link
https://www.zerohedge.com/news/2018-08-17/record-breaking-backlog-big-rigs-largest-14-years
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