Class 8 Truck Sales Forecast 2018

Class 8 Truck Sales Forecast 2018
Class 8 Truck Sales Forecast 2018 Image link: https://en.wikipedia.org/wiki/Great_Depression
C O N T E N T S:

KEY TOPICS

  • "We think it?s going to be a good retail year for Class 8 trucks in 2018," said Jeff Sass, senior vice president of Navistar?s North American truck sales.(More...)
  • "We expect 2018 Class 8 retail sales will be in the range of 235,000-265,000 for the U.S. and Canada, likely to be the third-strongest market ever," he contended.(More...)
  • IHS Markit?s December 2017 commercial truck chassis sales forecast for 2018 was a bit brighter than in July.(More...)
  • Earnings are expected to rise the most for transportation equipment companies that are more involved with class 8 production, and especially those whose clients are large trucking fleets.(More...)
  • Within the vocational segment, Peterbilt's share of refuse truck sales hit a record 30%.(More...)
  • Truck segment net sales increased 22 percent to $1.7 billion in second quarter 2018 compared to second quarter 2017, due to higher volumes in the company's Core markets, higher export truck volumes, an increase in military sales, and a shift in model mix, partially offset by a decline in Mexico truck volumes.(More...)
  • "The work we've done in the first half of the year growing Class 8 share, building our backlog and managing costs, combined with strong industry conditions, positions us to deliver an even stronger second half," Clarke said.(More...)
  • Industry retail deliveries of Class 6-8 trucks and buses in the U.S. and Canada are forecast to be 380,000 units to 410,000 units, with Class 8 retail deliveries of 250,000 to 280,000 units.(More...)
  • "The Class 8 build rate rose to 1,208 units per day, the strongest rate of production in nearly two years," he said.(More...)
  • A positive economic environment and a drive to replace ageing vehicles and expand fleets is forecast to drive the truck market across the Americas in 2018 and 2019.(More...)
  • Freight demand is rising, rates are soaring and truck sales are at their best level in years.(More...)
  • A truck with a gross vehicle weight in excess of 26,000 pounds (i.e. class 7 and 8 trucks).(More...)
  • "Our inventory of bodied-up medium-duty trucks that are ready to support customers in a wide variety of business sectors nationwide contributed to another good year for both medium- and light-duty truck sales," said Rush.(More...)

POSSIBLY USEFUL

  • "It was a good year for us in 2017, particularly on the work truck side as economic conditions improved and business picked up in the construction, housing and infrastructure markets," said Matt Kilgore, regional sales manager for MHC Kenworth in Kansas City, Mo. (More...)
  • With all this good news, why has the market sold off the sector so aggressively?(More...)

RANKED SELECTED SOURCES

KEY TOPICS

"We think it?s going to be a good retail year for Class 8 trucks in 2018," said Jeff Sass, senior vice president of Navistar?s North American truck sales. [1] New orders for Class 8 trucks in December jumped to 37,500 vehicles, a 76 percent gain compared with the same month a year earlier, according to ACT. [1] ACT estimates that manufacturers will receive orders for 305,000 Class 8 trucks, which would be a 19 percent gain. [1]

Peterbilt Motors Co. is notably bullish on the economy and business opportunities in 2018, and on Thursday predicted that U.S. and Canadian retail sales of Class 8 trucks will be in the 235,000-265,000 range for the year. [2] Class 8 truck sales in the U.S. are expected to hit almost 220,000 units by 2019. [3] U.S. retail sales of Class 8 trucks in January jumped 32.1% to more than 14,000, WardsAuto.com reported, as signs of a strong economic expansion increased. [4] U.S. retail sales of Class 8 trucks in May topped 19,000 and were the fourth-highest in the past 26 months, WardsAuto.com reported. [5] Carrier rates are increasing, and orders and retail sales of Class 8 trucks are increasing," Quinn said. [2] DETROIT (Reuters) - North American orders for Class 8 semi-trucks jumped 77 percent in December compared with the same period in 2016, for a 77 percent full-year surge in truck sales in 2017, FTR, a company that tracks the industry, said on Friday. [6] Its latest forecast calls for North American Class 8 sales in 2018 to increase 25% to 314,500 compared with 252,000 in 2017. [7] ACT forecast U.S. and Canadian retail Class 8 sales to increase by about 25% in 2018 compared with 2017. [4]

Full-year 2017 orders for Class 8 trucks came in at 290,000 units, FTR said, compared with the 164,000 big rigs that truck companies ordered in 2016. [6] ACT reported the actual total was at 251,800 Class 8 trucks sold in North America in 2017, and it is expecting 314,500 will be this year. [4] In 2014 and 2015, 297,000 and 323,000, respectively, of class 8 trucks, or the largest class of trucks on the road, were built, and most trucks are replaced for the first time after five years than at any other age. [8] Peterbilt has just completed a major expansion and investment at its Denton plant, where it builds Class 8 trucks like the new Model 579 Ultraloft unveiled yesterday in Scottsdale, AZ. [2]

According to Paccar, Class 8 truck industry retail sales for the U.S. and Canada have increased by 32% year-to-date and are expected to be in a range of 265,000 to 285,000 vehicles in 2018. [9] "U.S. and Canada Class 8 truck industry orders surged by 111% in the first six months of 2018 compared to the same period last year," said Gary Moore, Paccar executive vice president. [9]

"We expect 2018 Class 8 retail sales will be in the range of 235,000-265,000 for the U.S. and Canada, likely to be the third-strongest market ever," he contended. [2] Freightliner continued its run as the market leader in Class 8 sales as it reached 5,228 units, good for a 36.2% market share, and a 28.2% improvement over 4,077 sold a year earlier. [4] Sales are projected to rise in all weight class groups this year: 17,000 units in Classes 3-5; slightly more than 10,000 units in Classes 6-7; and about 28,000 units in Class 8. [10]

Investors have avoided investing into trucking equipment in the following year when industry analysts forecast a Class 8 production of more than 300,000 units for a year. [8] Mack raised its forecast for total Class 8 production in 2017 to 235,000 units from its previous prediction of 225,000 units made at the start of the year. [11]

FTR also recently developed a new Class 8 order predictor, based on spot market data from Truckstop.com, and it has become a fairly reliable tool in predicting Class 8 truck orders, Starks said. [12] Eric Starks, CEO of FTR, projects Class 8 truck orders to remain healthy until 2021. [12]

"The growth in Class 8 market share is due to positive reaction to the LT series on-highway truck and the 12.4-liter A26 engine. [5]

Class 8 is expected to be the primary driver of growth in 2018 and 2019. [10] The company increased its market share of Class 8 retail sales to a record 15.3% in 2017, Quinn noted, and also saw a 20% share in the vocational market. [2] • Year-to-date Class 8 retail sales for Mack in the U.S. and Canada indicate the OEM is maintaining market share of 8.5%. [11]

IHS Markit?s December 2017 commercial truck chassis sales forecast for 2018 was a bit brighter than in July. [10] We are really bullish on what is going to happen for the rest of 2018," said Jeff Sass, Navistar International Corp.?s senior vice president for North American truck sales and marketing. [4]

In 2017, Peterbilt set its own market share record for U.S.-Canadian Class 8 truck sales at 15.3 percent, well above is previous record of 14 percent in both 2011 and 2012. [13] With the trucking industry firing on all cylinders and across all segments, Peterbilt forecasts 2018 U.S. and Canadian Class 8 retail sales to reach 265,000 to 285,000 units. [13] Industry retail deliveries of Class 6-8 trucks and buses in the United States and Canada are forecast to be 380,000 units to 410,000 units, with Class 8 retail deliveries of 250,000 to 280,000 units. [14] North American fleet owners last month ordered 40,200 Class 8 trucks, the vehicles used to haul goods long distances, a 76% jump compared to the same month in 2017, according to preliminary figures from freight analysts FTR. [15] A Mack Truck Inc. cab and vehicle assembly plant in Macungie, Pa. FTR projects production of Class 8 trucks will reach 330,000 vehicles this year. [15] We?re not looking at an aged truck fleet,?? Kauffman said, explaining that his math puts 2018 Class 8 production at 265,000 units. [16] "The only year where Class 8 production has ever been higher was 2006," he wrote, when carriers buoyed by a strong economy were also rushing to buy trucks ahead of tightened emissions standards in 2007. [15]

North American Class 8 truck orders have soared to an all-time high, according to preliminary data from May. [17] Class 8 truck orders surpassed the 40,000-unit mark for the fifth time in seven months as dealers have already begun ordering for 2019. [18]

Class 8 year-to-date sales totaled 26,141, 13.5% above year-ago's 23,034. [19]

Despite these limits to growth, forecasts for truck sales and U.S. economic growth are higher for 2018 than they were for 2017. [20] The parent company of truck makers Peterbilt, Kenworth, and DAF reported on July 24 a 50% rise in profit and forecast the strong truck sales market will continue into 2019. [9]

Commercial truck sales are expected to grow between 5% and 10% in 2018. [20] As of September, interest rates remain historically low and are unlikely to have a negative effect on truck sales in 2017 or 2018. [20]

In sum, truck chassis sales are expected to grow faster in 2018 than in 2017. [10] "And we believe it will be significantly higher for 2018," said Jonathan Randall, senior vice president of sales for Mack Trucks North America during a press event at ATA's Management Conference & Exhibition. [11]

Jonathan Randall, senior vice president of sales for Mack Trucks North America, noted during a press conference at the 2017 American Trucking Associations (ATA) annual Management Conference & Exhibit this week in Orlando, FL, that his company is raising its total Class 8 production in 2017 to 235,000 units from its previous prediction of 225,000 units made at the start of the year. [21] According to Kyle Quinn, general manager of Peterbilt, retail sales of Class 8 trucks are increasing. [22] That would be the third-best year ever for sales of trucks in the heaviest Class 8 weight segment. [22]

The number of units ordered marks the third consecutive month Class 8 trucks have surpassed 30,000, according to FTR. December activity was 15 percent higher than November and 77 percent higher compared with the same period a year ago. [23] Distribution of Class 8 orders continues to be inconsistent across OEMs ; however, no truck manufacturer is showing any significant weakness in order activity, according to FTR. North American Class 8 orders for the past 12 months totaled 290,000 units, and the market continues to show strength heading into 2018. [23]

In the Class 8 truck market, new entrants focusing on electrification - Tesla and Nikola - are already winning substantial pre-orders as major fleets look to trial newer technologies to reduce emissions and lower operational costs. [24] The increase in heavy truck orders and sales this year - which is convincing some OEMs to revise their total Class 8 production projections upward or 2017 - is being driven primarily by small motor carriers and vocational fleets, according to analysts. [21]

"We believe continued economic growth, implementation of the ELD mandate, improved fuel efficiency and continued strength in most market segments, evidenced by near record-high order intake for January, will drive Class 8 truck sales in 2018," Rush added. [25] Looking to 2018, we believe our Class 8 truck sales will remain strong, though we expect our sales mix to shift more towards over-the-road fleets and our market share may normalize closer to historical levels," Rush explained. [25]

Earnings are expected to rise the most for transportation equipment companies that are more involved with class 8 production, and especially those whose clients are large trucking fleets. [8] Class 8 will probably grow much faster than the rest of the industry this year and next. [10] Class 8 orders in May reached 35,600, according to ACT?s preliminary data, and were more than double those from a year earlier. [5] VTNA on March 14 launched its updated Class 8 VNX model designed for heavy-haul applications, which the company said made up a high-profile segment of the industry. [7] It sounds like a lot, but in Class 8, 218,000 units is well below the 2006 record of almost 300,000 units. [10] This is due to much faster growth in Class 8 than previously anticipated. [10] While we?re excited about the forecasted strength in the Class 8 market, we?re also keeping a close watch on potential disruptions in the supply chain that such robust activity can bring," said John Walsh, Mack?s vice president of marketing. [4] This included the International 12.4-liter A26 engine, which opened half of the class 8 market to Navistar. [8]

Within the vocational segment, Peterbilt's share of refuse truck sales hit a record 30%. [2]

North American Class 8 truck orders surpassed 30,000 units for the second consecutive month in November, clocking in at 32,400 units and 32,900 units, FTR. [23] From a bottom-up perspective, the trucking industry is set for a strong year, particularly in North America -- the last column shows how companies have raised guidance for the largest class of heavy truck, namely Class 8. [26]

As a result of that strength in orders, several OEMs are raising their total year Class 8 production forecast. [21] PACCAR & Navistar data is North America Class 8 retail sales. [26]

Truck segment net sales increased 22 percent to $1.7 billion in second quarter 2018 compared to second quarter 2017, due to higher volumes in the company's Core markets, higher export truck volumes, an increase in military sales, and a shift in model mix, partially offset by a decline in Mexico truck volumes. [14] The Company sold 13,083 Class 8 trucks in 2017, an increase of 21% compared to 2016, while the U.S. Class 8 market remained essentially flat. [25] The Company sold 3,218 Class 8 trucks in the second quarter and accounted for 5.3% of the U.S. Class 8 truck market. [27]

Texas being the biggest state for trucking industries not only for number of class 8 trucks sold but also for the amount of freight generated. [28] Mexico constitutes the lowest share of the Class 8 truck market in North America. [28] The Class 8 Truck market in North America is fairly consolidated with only 4 companies making up for complete pie. [28] "Our new Class 8 truck deliveries were down slightly in the second quarter, primarily due to truck and component manufacturer production constraints. [27] Our new Class 8 truck deliveries are up 7.8% year to date as compared to the same time frame last year," said Rush. [27] The used truck market is strong, due in part to extended lead times for new Class 8 truck deliveries. [27] Daimler is the undoubted leader in the Class 8 truck North American market followed by PACCAR, Volvo and Navistar. [28]

"We expect our Class 8 vehicle sales will accelerate through the second half of 2018, although manufacturer production capacity limitations could delay some deliveries into 2019," he added. [27] Mesker says SAF-Holland uses a detailed formula that includes economic data, MacKay & Company forecasts, Class 8 truck build rates and corporate sales data to make predictions. [29] I estimated in Tesla Semi: Total Addressable Market And Incremental Value that the global Class 8 truck market sales may be as high as two million units per year. [30]

"The work we've done in the first half of the year growing Class 8 share, building our backlog and managing costs, combined with strong industry conditions, positions us to deliver an even stronger second half," Clarke said. [14] "We had a great second quarter, delivering stronger than expected results by taking advantage of the robust market conditions," said Troy A. Clarke, Navistar chairman, president, and CEO. "The market continues to respond favorably to our new products, especially our LT Series on highway tractor and the 13-liter A26 engine, which helped us capture two points of year-over-year share growth in the Class 8 segment." [14] FTR put third-quarter Class 8 production at 70,000 units "before taking a seasonal dip to 65,000 units in the fourth quarter. [16] "The recovery in the Class 8 market is building, and we saw that with the orders through the summer," said Don Ake, vice president of commercial vehicles at FTR. "Order totals never got that low and followed cyclical trends. [18] During an economic outlook and press conference at the Paccar Innovation Center this week, Peterbilt announced several new features for its Class 8 lineup. [13] December marked the seventh month of gains for Class 8, up 38.6% with 2,550 deliveries. [19]

The U.S. Class 8 fleet currently totals approximately 2.9 million trucks. [31] The report features 2018 current and 2019 forecast estimates on the sales of New medium- & heavy-duty truck & bus tires nationally and for all 50 U.S. States and up to 900 metro areas. [31] Sales of Class 8 vehicles are expected to climb 38% from 186,003 vehicles in 2017 to 257,567 in 2028. [32] In 2017, Rush Class 8 retail sales accounted for 6.6% of the total U.S. Class 8 market, compared to 5.5% in 2016. [25] Rush?s U.S. Class 4-7 medium-duty truck sales reached 10,952 units in 2017, essentially flat compared to 2016. [25] Rush?s medium-duty new truck sales accounted for 4.5% of the total U.S. Class 4-7 market in 2017. [25]

Industry retail deliveries of Class 6-8 trucks and buses in the U.S. and Canada are forecast to be 380,000 units to 410,000 units, with Class 8 retail deliveries of 250,000 to 280,000 units. [33] According to Loup Ventures, Tesla will ramp its production of its new Class 8 truck relatively slowly: only 3,750 units in 2020 and 40,000 units in 2023. [30] Using the math I presented above, 40,000 Class 8 trucks would approximate one million cars in terms of fuel consumption. [30] The new Cummins Westport ISX12N engine, manufactured at the Jamestown Engine Plant, became the world?s first class 8 on-highway truck engine certified by the California Air Resources Board to their near-zero emissions standard. [34]

"The Class 8 build rate rose to 1,208 units per day, the strongest rate of production in nearly two years," he said. [21] "Through year to date, Class 8 build is up 4.5% compared to the same period last year." [21] In separate commentary, Kenny Vieth, ACT's president and senior analyst, noted that strong order volumes are helping reduce Class 8 production backlogs, which contracted in September for a fifth consecutive month. [21] Over the same period, Class 8 vehicles are projected to generate the highest revenue share owing to their capability to carry huge loads. [22] According to the National Automobile Dealers Association (NADA), Class 8 vehicle selling prices in January were solid, continuing the uplift experienced in December. [22]

A positive economic environment and a drive to replace ageing vehicles and expand fleets is forecast to drive the truck market across the Americas in 2018 and 2019. [24] Close to 700,000 class 4-8 commercial vehicles are forecast to be sold across the region in 2018. [24] Meritor & Dana data is North America heavy-duty Class 8 production. [26] Vieth added that September's lower Class 8 backlog/build ratio was predominantly driven by an increased build rate. [21] Early adopters will tend to be in medium duty and highly specialized Class 8 applications that make the current limitations of battery storage technology more manageable." [35] When we seasonally adjust the data, the Class 8 backlog actually rose slightly from August," he explained. [21]

Freight demand is rising, rates are soaring and truck sales are at their best level in years. [22] Last summer Successful Dealer asked in this space if your new truck sales were outpacing your 2017 sales goals through the first six months of the year. [23] This was predominantly on account of China market growth, which resulted in MD-HD truck sales touching record levels of 1.45 million units in 2017 with recovery in manufacturing, rapid infrastructure building activities, implementation of anti-loading regulations, as well as China V emission standards. [36]

A truck with a gross vehicle weight in excess of 26,000 pounds (i.e. class 7 and 8 trucks). [37] America. 2017 Market Size & Share Estimates and 2018 - 2022 Outlook This report provides a comprehensive analysis of the business of fabricating medium and medium-heavy duty Class 4 to Class 7 truck bodies for. [31] Accordingly, on July 24, 2018, the Company?s Board of Directors declared an initial quarterly cash dividend of $0.12 per share of Class A and Class B Common Stock, to be paid on August 29, 2018, to all shareholders of record as of August 8, 2018. [27]

The number of Class 8 vehicles in operation is projected to rise 19 percent from 3.43 million to 4.07 million by 2028. [32] This is prompting small fleet operators, typically having 5-6 Class 8 tractors to move down a few classes and get more vehicles to augment their fleet size. [28] "In 2017, our Class 8 market share grew to 6.6% due primarily to the strong vocational market. [25]

"Our inventory of bodied-up medium-duty trucks that are ready to support customers in a wide variety of business sectors nationwide contributed to another good year for both medium- and light-duty truck sales," said Rush. [25] "A healthy economy, strength in most geographic market segments, growth from customers in the energy sector and solid demand for vocational trucks and from over-the-road fleets contributed to our strong new truck sales performance," Rush said. [25] "Our medium-duty truck sales significantly outpaced the market in the second quarter, due to the strong activity from the construction sector and our leasing and rental fleet customers," said Rush. [27] "Used truck values stabilized in 2017, and our used truck sales remained flat compared to last year," said Rush. [25]

Truck Segment -- Truck segment net sales increased 22 percent to $1.7 billion in second quarter, 2018 compared to second quarter 2017, due to higher volumes in the company?s Core markets, higher export truck volumes, an increase in military sales, and a shift in model mix, partially offset by a decline in Mexico truck volumes. [33]

POSSIBLY USEFUL

"It was a good year for us in 2017, particularly on the work truck side as economic conditions improved and business picked up in the construction, housing and infrastructure markets," said Matt Kilgore, regional sales manager for MHC Kenworth in Kansas City, Mo. [1] FTR Transportation Intelligence estimated that orders for trucks in the largest segment jumped 60 percent to 290,000 vehicles last year. [1] A healthy economy and strong freight demand pushed truck trailer orders and prices for used big rigs higher in February. [1] Strong freight demand and a healthy economy pushed first-quarter orders for heavy-duty trucks to their highest level since 2006. [1]

The current robust market also comes as small- and mid-sized fleets and work truck buyers are placing more orders, said Michael Baudendistel, an analyst at Stifel Financial Corp. [1] The result is tighter capacity and increased demand for new trucks, Starks said. [1] Much of the increasing demand for trucks comes from improvement in the manufacturing sector of the economy, said Jonathan Starks, chief operating officer at FTR. [1]

Motor carriers are trading up to trucks equipped with the latest safety equipment and connectivity innovations, including remote, proactive diagnostic and repair planning to make sure their trucks stay on the road and out of service bays, said Magnus Koeck, Volvo Trucks North America vice president of marketing and brand management. [1]

The 2018 order season is off to a good start as trucking fleets react to the rate increases, Baudendistel said. [1]

In an industry update, "Too much of a good thing is a good thing," Baudendistel explained some investors are concerned the positive trend might mean 2018 will be a peak year for truck production, but he believes 2019-2020 might be stronger than 2018. [8] A strong road freight market should continue to fuel truck production in 2018, FTR said. [6]

We?ve been very, very successful with the launch of our new products, particularly the LT, and the A26 is doing extremely well also," Michael Cancelliere, Navistar?s president of truck and parts, said March 8 during a fiscal-year first-quarter earnings call with analysts. [7] "We expect there will be great opportunities this year," said Jonathan Randall, senior vice president of sales and marketing for Mack Trucks North America. [7] Volvo Trucks North America saw sales soar 87.7% to 2,536, good for a 13.2% share. [5] For International Trucks, a unit of Navistar Inc., sales hit 2,244, up 71.8% from the 2017 period and good for a 13.4% share. [7] Kenworth Truck Co. notched 2,100 sales, a year-over-year increase of 57.8% and good for a 12.6% share. [7] Mack Trucks, also a Volvo Group brand, sold 1,228 trucks, earning an 8.5% share, and improving 14.8% on sales of 1,070 in the 2017 period. [4]

VTNA, a unit of Volvo Group, sold 1,266 trucks, good for an 8.8% share, and a 7.5% improvement on 1,178 trucks sold a year earlier. [4] Western Star, DTNA?s niche vocational brand, sold 372 trucks, good for a 2.6% share, and 36.8% improvement over the 272 sold a year earlier. [4] Peterbilt Motors Co. sold 2,503 trucks, earning a 17.3% share, and improving 34.4% on 1,862 sold a year earlier. [4] Volvo Trucks North America sold 1,973 trucks, an 88.3% gain from a year earlier, and earned an 11.8% share. [7] Truck makers sold 16,687 units compared with 11,200 a year earlier, WardsAuto.com reported. [7] Western Star, also a brand of DTNA, sold 584 trucks compared with 405 a year earlier. [5] DTNA?s Freightliner brand sold a leading 6,310 heavy-duty trucks, up 46.4% from a year earlier and good for a 37.8% market share. [7] The primary takeaway for the work truck industry is that there are likely two more years of growth for which to plan. [10] The company also reported several milestones for 2017 and so far this year; notably on Jan. 9, Peterbilt built its 1 millionth truck at its Denton, TX plant, and that truck will be given away to Peterbilt's top "superfan" to be announced at the upcoming Mid-America Trucking Show in March. [2] The demand for trucks has truck makers ratcheting up production rates, which now stretch into October at Daimler Trucks North America, the company reported. [7] Experts predict many smaller truck companies that fudge the books in order to stay profitable in a low-margin industry will close up shop, benefiting larger companies and driving up demand for new vehicles. [6] The outlook looks great for truck manufacturers and component suppliers as order season jumped to a quick start, large fleets returned to equipment markets and contract rates have increased, said Michael Baudendistel, transportation equipment analyst for Stifel. [8] "Plus there should be increased demand driven by replacement needs as historically high production in 2014 and 2015 means there will be a large supply of four- and five-year-old trucks hitting the market for their first trade-in over that period," Baudendistel said. [8]

Freightliner remained the market share leader at 31.5%, selling 6,050 trucks, down 12.3% from a year earlier. [5] Kenworth Truck Co. sold 1,693 trucks, good for an 11.7% share, and an improvement of 42.5% over 1,188 in the 2017 period. [4] Mack Trucks sold 1,194 trucks, an 8.1% gain over the year-earlier period, for a 7.2% share. [7]

FTR said orders in December were spread unevenly among truck manufacturers, but said no single company "is showing any significant weakness in order activity." [6] Last year, Peterbilt produced more than 40,000 vehicles, with its Model 567 and 579 on-highway trucks accounting for 70% of that total. [2] Among truck buyers, premium comfort and productivity features remain a high priority amid efforts to recruit the best professional drivers, said Magnus Koeck, vice president of marketing and brand management at Volvo Trucks North America. [4] He increased earnings estimates for truck equipment manufacturers and changed the stock rating to buy for Navistar, upgraded to the same ratings as Meritor and WABCO. The news is good for the country?s struggling manufacturing sector. [8]

Truck order growth in 2018 could be further boosted by a federal mandate that truck firms switch to electronic logs (ELDs) from paper logs. [6]

ACT has lowered its North American production forecast in 2018 by about 3,500 units to 324,400, but shifted those units to 2019, he said. [5] "Our forecast continues to call for an increase in production for 2018, but market expectations are varied for 2019," FTR Chief Operating Officer Jonathan Starks said in a statement. [6]

The percent change data is the difference between the July and December forecasts -- not the estimated annual percent change for the year. [10]

The improved sales come as the freight market is as strong as it has been in nearly 40 years, or since federal deregulation of the industry in the 1980s, beginning with the Motor Carrier Act of 1980, according to American Trucking Associations Chief Economist Bob Costello. [4] At Peterbilt Motors Co., sales were 2,487, up 36.9% from a year earlier and good for a 14.9% share. [7] For the first five months of the year, sales rose 32.3% to 88,674 compared with the 2017 period. [5] Sales reached 19,195, an increase of 18.1% from 16,248 a year earlier, according to Ward?s. [5] Sales are still not tracking with increases in orders or production, Tam added. [5]

Class 3-8 sales are now thought to have grown faster in 2017 (0.9 percent) than was predicted in July (-0.8 percent). [10] Consumer confidence is also strong, he added, and motor vehicle sales in general have been good, driven by favorable economic conditions. [2] International, a unit of Navistar International Corp., claimed a 14.9% market share on sales of 2.159. [4] Sales are still expected to increase in Classes 3-7 -- just not as much as previously anticipated. [10] Robert Woodall, assistant general manager of sales and marketing at Peterbilt, said additional gains should start to show more in the second quarter. [2]

"So truckers? profitability may not reach its potential until late next year setting up a strong fall 2018 order season for 2019 delivery," Baudendistel said. [8] • Randall said demand is already high for Mack's new Anthem tractor, which goes into full production in the first quarter of 2018. [11] Thanks to the A26, the company?s share of 13-liter heavy registrations nearly doubled in the first five months of fiscal 2018. [5]

The rate of growth will accelerate in 2018 and start decelerating in 2019. [10] As long as the economy remains stable, the outlook for 2019 should be even better than 2018, and production should continue to rise into 2020. [8]

The Class 3-8 total increased by more than 10,000 units -- from 691,066 to 702,500. [10] FTR bases its forecast on a wide range of metrics, including consumer spending, freight movement, manufacturing output, business spending, inventory levels, housing starts and more. [12] Home prices and new home starts also are rising, and the construction segment "remains strong," Quinn noted, and used truck pricing has stayed flat -- all of which could mean favorable days ahead for new truck orders. [2]

Fleets have been buying new trucks and trailers at records rates to meet economic demand and the numbers from our 2018 Fact Book tell the story of this trucking trend. [18] European truck industry registrations in the above-16-tonne market are estimated to be in a range of 300,000 to 320,000 vehicles in 2018, which would be the third highest in history, according to the company. [9] The Truck segment profit increased to $42 million in second quarter 2018, versus a second quarter 2017 loss of $56 million. [14] Kenworth, Peterbilt, and DAF delivered a record 46,400 trucks in the second quarter of 2018, 18% higher than in the same period last year. [9] The largest markets for commercial trucks and truck equipment are the construction and state/local government sectors of the economy, which are expected to do well in 2018. [20] The only truck application markets with low 2018 expectations are agriculture, retail and mining (includes oil/gas). [20] This is a healthy, growing truck market, which is in excellent position for greater expansion in 2018. [18]

"Trucks rolling off the production line today are getting 8 and 8.5 miles per gallon. [17] "Paccar's financial results reflect strong global truck demand, increasing Paccar truck production and market share, and robust global aftermarket parts sales," said Ron Armstrong, CEO. "The positive economic and freight growth in North America and Europe are good indicators that 2019 will be another strong truck market." [9] Growth in the construction sector will likely affect the growth rate of commercial truck and truck equipment sales the most. [20] Through the first half of the year, commercial truck chassis sales were up 1.3%. [20] The work truck industry managed to continue growing in 2016, as measured by sales of truck chassis and truck equipment. [20] Sales volume remained subdued as fleets kept their lower-mileage trucks in service rather than trading them in as expected. [38]

Global Operations segment second quarter 2018 net sales grew 39 percent to $97 million compared to second quarter 2017. [14] Financial Services segment second quarter 2018 net revenues increased 13 percent to $63 million versus the same period one year ago, primarily driven by higher overall finance receivable balances in the U.S. and Mexico. [14]

"Stronger freight growth generated by a more vibrant U.S. economy will spur demand for additional trucks next year," said Ake. [18] Strong demand is also boosting the fortunes of suppliers like engine-maker Cummins Inc. The company is projecting overall revenues to rise 4% to 8% this year, and investor relations chief Adam Schumm told an investment conference hosted by Barclays on Feb. 22 that the company expects 20% growth in the North American market for heavy-duty trucks. [15] The company cited higher volumes in Class 6-8 trucks and buses (Core) in the United States and Canada as drivers for the growth. [14]

Denoyer estimated that about two-thirds of the trucks being built this year represent replacement trucks, with the rest indicating fleet growth. [17] While Denoyer expects supply to increase in the used truck market next year, he is also optimistic about pricing due to continued demand. [17] In five to six years those are going to be the trucks being traded out and going into the used truck market, so I think demand for that is going to be really strong." [17] "We know that supply of used trucks will increase next year," Denoyer said. [17] The huge number of new trucks being produced now will undoubtedly flood the used truck market in the next several years, but Denoyer said they could maintain decent residual value based largely on their quality. [17]

"Truck deliveries increased in North America, Europe, Australia, and Brazil in the second quarter, reflecting strong customer demand for the industry-leading Kenworth, Peterbilt and DAF trucks," said Darrin Siver, Paccar senior vice president. [9] Navistar has tapped David Giroux, who has worked in communications for companies such as Meritor, Peterbilt, and Daimler Trucks North America, to head up its Corporate Communications department. [18]

While the replacement and pre-buy impacts come out of next year?s forecast, those losses should be offset by the demand associated with an improving freight market and tight truck capacity. [16] The orders are spread across fleets of all sizes, as carriers big and small move to take advantage of a forecast 4% increase in truckload freight in 2018, said Don Ake, FTR?s vice president of commercial vehicles. [15] The firm has raised its 2018 production forecast to 330,000 vehicles, up from 320,000. [15] As for commercial trailer production, FTR equipment expert Don Ake said he substantially underestimated the U.S. dry van market in the 2017 forecast, expecting production to be 150,000 units, but which he now estimates to be 177,000 units for 2017 - an 18 percent difference, but virtually the same level as 2015 and 2016. [16]

FreightWaves SONAR data shows that the majority of the U.S. has an above average number of trucks in market, which supports the notion that the industry is adding significant capacity, not just replacing existing trucks. [17] Market segmentation reveals that the decline from the second half of 2015 to Q1/17 was more about conventional cab chassis than other segments of the work truck industry. [20]

One reason for the recent improvement in the commercial truck chassis market was the long downturn in capital expenditures on equipment troughed in the first quarter. [20] To get a better feel for growth prospects, think about the markets for commercial trucks. [20]

With a vision of bringing "trucks, trailers and goods online," KeepTruckin continues to innovate and invest in technologies that improve the lives of drivers. [17] Truck drivers do horrible shifts, sometimes even 24-hour shifts in order. [16] Rates are going to go up, but we?re going to have to go out and hire drivers before we can buy trucks. [16] When Stephanie Klang?s then-husband taught her to drive a truck in 1980, allowing her to escape the poverty she grew up in, she never expected that one day her likeness would be one of four women drivers featured on a special CFI tractor. [9]

During the quarter, the company launched the International MV Series line of medium-duty trucks. [14]

Truck orders hit a nearly 12-year high in January, when freight prices soared as shippers scrambled to find capacity amid the tightest trucking market in years. [15]

The Global Operations segment recorded a $1 million profit in second quarter 2018 compared to a $7 million loss in the same period one year ago. [14] Financial Services segment recorded a profit of $19 million in second quarter 2018, an increase of $4 million versus second quarter 2017, primarily due to improved interest margins. [14]

Spireon?s fleet business in the small and mid-sized market segments grew in the first half of 2018 due to a 45% increase in utilization of its fleet tracking solutions. [9]

Ake suggested that the expected impact of the looming ELD mandate prompted fleets already using electric logs to add trailers this year, earlier than anticipated by "conventional thinking,?? which had pushed that demand into 2018, after the rule goes into effect. [16] This trend has contributed to the economy?s inability to perform at its potential, and while economic growth is expected at least through 2018, the rate of growth will likely remain about 2.5%. [20] Wages aren?t rising fast, but they are rising, and wage growth is expected to accelerate in 2018. [20]

As 2018 continues, there are a number of trends in the industry that should continue to drive growth. [20]

A 54.4% spike in domestic sales and 11.1% growth in imports left Class 5 up 49.4% in December, totaling 538 deliveries. [19] Sales in Class 6 saw the greatest improvement in December, rising 229.5% from 52 to 165 units. [19] Year-to-date sales for Class 6 were 27.5% above year-ago with 1,360 units. [19]

Nonconventional cab chassis (strip, cutaway and low-cab-over-engine) sales grew in 2016 and the first half of this year. [20] In Q1/17, chassis sales fell from the same-quarter, previous-year, at a rate of -2.2% before turning around in the second quarter with growth of 4.7%. [20] Sales volume was moderately higher than last month, but there was still enough demand to absorb any increase in supply. [38] Retail sales volume was lower than expected, and the predicted increase in trades has not yet come to pass. [38]

He projected dry van production to remain flat, coming at 178,000 units in 2018. [16] DAF, based in The Netherlands, achieved a record 16.5% market share in the European above-16-tonne segment in the first half of 2018. [9] Labor market imbalances will continue to affect the U.S. economy in 2018. [20]

With all this good news, why has the market sold off the sector so aggressively? One answer is that the good news from the start of 2018 is actually a pull-forward of demand from 2019 and that this year will mark a peak in truck demand. [26] Some of the key trends to watch out for in 2018 will be the proliferation of supply chain orchestration solutions in the freight industry, developments in electric powertrain and autonomous driving technologies for commercial vehicle applications, alongside a slew of new product launches by truck OEMs which include Navistar's new A26 12.4L SCR engine, Scania's new P- and L-series, Volvo's new VNL series, Mack Anthem, Volvo FH and FM LNG, and several others. [36] According to an industry analysis by DAT Solutions, just one truck was available for every 12 loads needing to be shipped at the start of 2018, which is the lowest ratio since 2005. [22] NADA expects that used truck volume will be mildly to moderately stronger in 2018, as customers become more confident about the economy. [22] Coupled with a stabilizing used truck marketplace a strong parts and service year throughout the industry, Successful Dealer would like to know if the industry was able to recover from 2017's slow sales start to finish with a solid or productive year. [23] In price sensitive markets like Mexico and other South and Central America countries, Chinese vendors are gaining share in the truck market as they develop better sales networks and offer comparable products at a lower price point. [24] In 2017, HD trucks sales share increased by 5.5% to 66.6% of global MD-HD trucks sales. [36] Global medium-duty (MD) and heavy-duty (HD) trucks sales grew 29% in 2017 from 2016 because of 62.8% year-on-year (y-o-y) growth in China crossing the 1 million mark, along with 55.1% growth in Russia, 41.1% growth in Next 11, and 23% growth in India. [36] Industry analysts say the increase in heavy truck orders and sales this year is being driven by small motor carriers and vocational fleets. [21]

The heavy duty segment in the class type category of the MENA commercial trucks market was estimated to be valued at nearly US$ 3,200 Mn in 2017 and is anticipated to reach a valuation of nearly US$ 5,300 Mn in the year 2025. [39] Roger Nielsen, president and CEO of Daimler Trucks North America (DTNA), noted in a roundtable discussion with reporters at ATA's annual gathering that truck production is expected to "finish strong" this year, with "no pause at all" in commercial vehicle orders. [21] The study objectives of this report are: To analyze and study the global Commercial Vehicles (Trucks) capacity, production, value, consumption, status (2013-2017) and forecast (2018-2025); Focuses on the key Commercial Vehicles (Trucks) manufacturers, to study the capacity, production, value, market share and development plans in future. [39] This report studies the global Commercial Vehicles (Trucks) market status and forecast, categorizes the global Commercial Vehicles (Trucks) market size (value & volume) by manufacturers, type, application, and region. [39]

We forecast that by 2022 these new vendors will be in a position to deliver several thousand trucks per year. [24]

The Bureau of Labor Statistics estimates that the average age of a commercial truck driver in the U.S. is 55 years old. [22] A report from the ATA says more than 70% of goods consumed in the U.S. are moved by truck, but the industry needs to hire almost 900,000 more drivers to meet rising demand. [22]

This was a reversal of the trend of growing share of MD trucks in the past few years on account of recovery of HD truck demand in HD markets of China, NA, and Europe. [36] One notable feature of the Americas market will be the increase in competitive pressure that established OEMs face in both the truck and bus markets over the next 5 to 7 years. [24]

The industry also heavily relies on male drivers -- according to the ATA only 6% of commercial truck drivers are women. [22] The Trump administration implemented new safety regulations in December that require commercial truck drivers to use electronic logging devices to record their hours. [22]

"With the economy strong, the drivers of truck freight solid, and the inventory cycle in favor of motor carriers, I expect freight tonnage to remain robust in the months ahead," said Bob Costello, the ATA?s chief economist. [22] The American Trucking Association Truck Tonnage Index (an index based on surveys of its membership) has risen strongly, leading its Chief Economist Bob Costello to say, "I expect freight tonnage to remain robust in the months ahead." [26] Volvo and Mack trucks are finding higher acceptance in the construction segment due to the improved freight environment. [40]

The demand for used trucks is expected to remain flat in the short term and gain strength in the medium term following the implementation of greenhouse gas (GHG) phase 2 regulations, combined with the upcoming fleet replacement cycle in 2019-2020. [40] There is a strong demand for higher-displacement engines in the used truck market. [40] Natural gas will generate demand at over 160 thousand units in the heavy duty trucks market by 2024. [41]

Although legitimate questions remain about whether these new vendors can execute on their production plans, it is clear they have first mover advantage, getting more electrified trucks on the road sooner than most of their established rivals. [24] That's not good news for truck manufacturers like PACCAR (Kenworth and Peterbilt) and Navistar (International Trucks), engine manufacturer Cummins or component manufacturers like Dana and Meritor. [26] Many owner-operators and other smaller fleets are still uncomfortable with the low used truck prices and so are not willing to dispose their old trucks. [40] Increasing fleet size will support the logistics and construction sectors which in turn will drive heavy-duty truck market share from 2017 to 2024. [22]

The global Commercial Vehicles (Trucks) market is valued at xx million US$ in 2017 and will reach xx million US$ by the end of 2025, growing at a CAGR of xx% during 2018-2025. [39] Trucks of most age groups were also up firmly compared to the same period last year. [22]

Peterbilt is forecasting that sales in the industry?s heaviest weight class will be in the range of 235,000 to 265,000 vehicles in the U.S. and Canada this year. [22] Freightliner Business Class medium-duty model and severe-duty model sales are up 9% and 16% versus last year, while Western Star sales are up 30%. [21]

South America is expected to put the prolonged downturn in sales to grow over 10% YoY in 2018. [36] This growth in sales has translated to the first full year of profit that the company has had in the last few years. [36]

Strong Economic Forecast for the Trucking Industry: 2018 is looking like it is going to be a great year for the trucking industry. [22] Our forecast continues to call for an increase in production for 2018, but market expectations are varied for 2019." [23] This document focuses on a number of topics that affect the trucking industry as a whole, including concerns around the funding of President Trump?s infrastructure plan, the shortage of drivers within the industry, a strong economic forecast for the trucking industry, and the impending ELD enforcement date. [22]

Cummins and Tesla showcased battery electric Class 7 and 8 prototypes respectively. [36] In 2016, class 5 contributed to over 12% of the overall industry share in terms of volume. [41]

In 2018, growth in North America, South America, Russia, Next 11, and RoW markets is expected to continue to be positive, while China, although over the 1 million mark in 2018, will be a smaller market than in 2017. [36]

The Company delivered 3,218 new heavy-duty trucks, 3,474 new medium-duty commercial vehicles, 679 new light-duty commercial vehicles and 2,055 used commercial vehicles during the second quarter of 2018, compared to 3,352 new heavy-duty trucks, 3,073 new medium-duty commercial vehicles, 473 new light-duty commercial vehicles and 1,743 used commercial vehicles during the second quarter of 2017. [27] "We believe there will be a growing supply of used trucks entering the market in 2018, and we will monitor the market carefully. [25] After leading the way in the initial project, the Dutch government has recently outlined plans to introduce multiple truck platoons in 2018 and 2019 across the Netherlands and further afield as part of day-to-day logistics. [42]

As long haul freight continues to shrink of late, there has been a developing rundown of trucking organizations who are deciding on bring down class of trucks to get their goods delivered. [28] "Our used truck unit sales were up 18% over the second quarter of 2017, and we continue to believe our inventory is well-positioned to support the market. [27] "Due to our continued ability to support customers with a nationwide inventory of ready-to-roll trucks, we believe our medium-duty sales will remain strong through the rest of the year," said Rush. [27]

While the forecast predicts there will be more trucks on the road in the coming years, the driver capacity to fill these trucks in the big problem, as all stakeholders in the industry are very aware. [32] The market volume has consistently hovered between 25,000-30,000 units a year but that does not reflect the true potential of the market as a lot of used trucks from U.S. make their way after completing their lifetime there. [28] We believe this will help stabilize used truck values and help lessen the impact of the large number of used trucks entering the market through the rest of the year," Rush said. [27] The Company delivered 3,378 new heavy-duty trucks, 2,498 new medium-duty commercial vehicles, 394 new light-duty commercial vehicles and 1,863 used commercial vehicles during the fourth quarter of 2017, compared to 2,521 new heavy-duty trucks, 2,581 new medium-duty commercial vehicles, 380 new light-duty commercial vehicles and 1,728 used commercial vehicles during the fourth quarter of 2016. [25] While a completely autonomous truck could be several years away, the company could offer some level of automation to help companies better manage their manpower costs. [43] A report by Mckinsey & Company, "Delivering change: The transformation of commercial transport by 2025?, predicts that by 2025 at least one in three new heavy trucks globally will have high-level automation technology. [42] One of the most interesting developments in the U.S. market in recent months was the news that Uber Technologies had bought autonomous truck start-up Otto, and within months announced the completion of the world?s first real-world commercial shipment with an autonomous truck. [42]

Increased demand and decreased supply of trucks caused rates to increase and began the shift to a carrier market. [44] Haulage companies with a full fleet of autonomous trucks could transport freight 24 hours a day without the need for a driver. [42] Strength in manufacturing, growing retail sales, and signs of a slowly improving housing market are for the most part acting as drivers of truck tonnage volumes however they are additionally confronting a considerable measure of headwinds. [28]

Adding a large and potentially complex vehicle like a semi truck could hurt the company?s existing production schedules and efficiency. [43] The company?s electric drivetrains are known for their strong performance, and the performance of the new truck is also expected to be robust, with Elon Musk indicating that the vehicle would have better torque than any diesel truck. [43] These vehicle centers, strategically located in high traffic areas on or near major highways throughout the United States, represent truck and bus manufacturers, including Peterbilt, International, Hino, Isuzu, Ford, Mitsubishi, IC Bus and Blue Bird. [25] The Company owns and operates Rush Truck Centers, the largest network of commercial vehicle dealerships in the United States, with more than 100 dealership locations in 21 states. [25] That Daimler was first licensed to test its autonomous trucks in Nevada points to the current difficulties of the regulatory conditions in Europe, although the manufacturer was involved in the European Truck Platooning Challenge and conducted a live test of its Highway Pilot Connect system in Germany last year. [42]

"We expect the Class 4-7 market to remain strong in 2018, due primarily to expected growth in infrastructure spending, continued strength in a wide variety of industries we support and positive general economic conditions," Rush said. [25] The Company sold 3,474 Class 4-7 medium-duty commercial vehicles in the second quarter, an increase of 13% compared to the second quarter of 2017, and accounted for 5.3% of the U.S. Class 4-7 commercial vehicle market. [27] During the second quarter of 2018, the Company incurred an additional pre-tax charge to amortization expense and a charge to selling, general and administrative expense totaling of $10.7 million, or $0.20 per diluted share, associated with the upgrade and replacement of certain components of the Company?s Enterprise Resource Planning software platform (ERP Platform). [27]

"With our aftermarket sales team building momentum and continued growth from our strategic initiatives, we believe our aftermarket results will remain solid through the second half of 2018," Rush said. [27] At its annual conference, this auto industry leader helped its global distributers share best practices and learn about the latest trends in sales, service and customer relationships - e.g., distributors in less mature auto markets learned about sophisticated models of business in established markets. [45] This 12-year commercial vehicle forecast with quarterly updates delivers business intelligence on sales and production in 75+ countries to the brand level. [45] Certain statements contained herein, including those concerning current and projected market conditions, sales forecasts, market share forecasts, demand for the Company?s services and the impact of strategic initiatives and tax reform legislation are "forward-looking" statements (as such term is defined in the Private Securities Litigation Reform Act of 1995). [25]

The FPNP is used to finance the Company?s new and used inventory, with its principal balance changing daily as vehicles are purchased and sold and the sale proceeds are used to repay the notes. [25] They offer an integrated approach to meeting customer needs -- from sales of new and used vehicles to aftermarket parts, service and body shop operations plus financing, insurance, leasing and rental. [25]

"As in past years, employee benefits and payroll taxes will negatively impact expenses in the first quarter of 2018 compared to the fourth quarter of 2017," Rush said. [25] Parts, service and body shop revenues were $422.9 million in the second quarter of 2018, compared to $366.6 million in the second quarter of 2017. [27] During the second quarter of 2018, the Company repurchased $8.0 million of its common stock and ended the quarter with $148.3 million in cash and cash equivalents. [27] The Company achieved a quarterly absorption ratio of 122.8% in the second quarter of 2018. [27]

In the second quarter of 2018, the Company?s gross revenues totaled $1.349 billion, a 12.1% increase from gross revenues of $1.204 billion reported for the quarter ended June 30, 2017. [27]

What this means for the industry in 2018, is an ease of the tax burden on businesses with the corporate tax rate reducing to 21%, from 35%. [32] Welcome to 2018! The final weeks of 2017 saw record rates, due to the all familiar urgency to move freight before the year?s end. [32]

Natural disasters notwithstanding, policy changes from D.C., autonomous vehicles, the power of digital and e-commerce consumer demand, and technological advancements in supply chains are what we?re focused on in 2018. [44] With the U.S. GDP expected to remain relatively stable, the 2018 economic outlook for the trucking industry is favorable. [32] As ATA?s premier economic planning resource, the U.S. Freight Transportation Forecast to 2028 profiles the current state of the entire freight transportation industry. [46] ATA?s forecast notes that trucking will continue to be the dominant mode for freight. [32]

RANKED SELECTED SOURCES(46 source documents arranged by frequency of occurrence in the above report)

1. (19) Rush Enterprises, Inc. Reports Fourth Quarter and Year-End 2017 Results

2. (18) Rush Enterprises, Inc. Reports Second Quarter 2018 Results, Announces First Ever Quarterly Cash Dividend | Rush Enterprises, Inc.

3. (17) The Cyclical Expansion Continues: Commercial Truck Industry Will Fare Well in 2018 - Monitordaily

4. (17) Trucking Industry Insight | Spring 2018 | Irontrax

5. (14) January Class 8 Sales Pass 14,000 | Transport Topics

6. (13) Commercial truck chassis sales forecast improves at end of year

7. (12) Heavy-Duty Truck Orders Surge in 2017, Strong 2018 Forecast

8. (12) Class 8 Sales Rocket to Nearly 17,000 in February | Transport Topics

9. (11) Navistar Posts 16% More Revenue | Construction Equipment

10. (11) Peterbilt predicts 2018 could be third-best year ever for Class 8 | Fleet Owner

11. (11) Small fleets are the ones buying trucks | American Trucker

12. (11) May Class 8 Sales Climb 18.1%; Analysts Expected More | Transport Topics

13. (10) Class 8 truck production not expected to peak in 2018, analyst says - Talk Business & Politics

14. (10) Earnings Watch: Paccar Profit Jump 50% on Record Sales - Fleet Management - Trucking Info

15. (9) Truck orders reach all-time high, data indicates growth -- FreightWaves

16. (9) Global Medium-Heavy Commercial Vehicle Market Outlook 2018-2025

17. (8) Class 8 will be strong in "18, analyst says - Tank Transport Trader

18. (8) A Market Research Report on Class 8 Truck Market in North America - Size, Forecast, Risks, Opportunities Till 2022

19. (7) Heavy-Duty Truck Orders Soared 76% in February - WSJ

20. (7) Americas Commercial Vehicle Sales To Grow 10% in 2018 - Interact Analysis

21. (7) What the Economic Outlook of the Trucking Industry Predicts for 2018 and Beyond

22. (7) North American truck orders jump 77 percent in December: FTR | Reuters

23. (6) Class 8 Orders Increase in Healthy, Growing Market - Equipment - Trucking Info

24. (6) Class 8 truck orders finish strong for month of December

25. (6) Time to Get Greedy With Trucking Stocks? -- The Motley Fool

26. (5) Large Year-to-Date Gains Posted by All Truck Classes in Canada | WardsAuto

27. (5) Automotive IQ | Autonomous truck technology - global outlook

28. (4) mack-raises-class-8-forecast-expects-big-year-in-2018 | Trailer/Body Builders

29. (4) Commercial Vehicles (Trucks) - Global Industry Size, Share, Tren - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

30. (4) North America Used Truck Market Analysis Forecast to 2025: Sales Volume of Class 8 Used Trucks to Reach 281,000 Units By 2025 - ResearchAndMarkets.com | Business Wire

31. (3) FTR forecasts Class 8 truck market to jump

32. (3) Peterbilt announces several new features for Class 8 lineup

33. (3) What Does Tesla Semi Mean To Oil Demand? | Seeking Alpha

34. (3) North America Heavy Duty Truck Market Research Reports & Analysis page 1

35. (3) Market Analysis and Forecasts -- Commercial Truck Blog

36. (3) Can Tesla Disrupt The Trucking Market With Its Electric Semi Truck?

37. (2) Navistar 2nd Qtr 2018 Results Released

38. (2) Heavy Duty Trucks Market - 4% Growth Forecast Over 2017-2024 | Markets Insider

39. (2) The only thing certain in 2018 is uncertainty. - Sunset Transportation

40. (2) Medium and Heavy-Commercial Vehicle Industry Forecast | IHS Markit

41. (1) Independent aftermarket rebounds in 2017

42. (1) • Truck sales forecast in the U.S. by class 2017-2020 | Statistic

43. (1) Cummins Announces First Quarter Results; Raises Outlook for 2018 | Cummins Inc.

44. (1) ACT Research | Commercial vehicle industry data, market analysis and forecasting services.

45. (1) Heavy Duty Truck Parts Dealers (US) - Industry Report | IBISWorld

46. (1) American Trucking Associations

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