Truck Orders Soaring on Growing Freight Demand
By Paul Page | June 5, 2018 3:44 p.m. ET
The market for new heavy-duty trucks is growing at a nearly unprecedented pace this year as fleet owners and big-rig manufacturers race to keep up with accelerating U.S. freight demand.
Trucking companies ordered 35,600 trucks in May, more than double the orders from the same month a year ago, according to preliminary figures by ACT Research. That leaves manufacturers with an order backlog of more than 200,000 trucks, or 8.4 months of production.
“This is an astonishing rate of order placement,” Kenny Vieth, president of the Columbus, Ind.-based ACT, said Tuesday. “What’s facilitating it is that truckers are absolutely crushing it on freight rates and profitability right now.”…
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