Class 8 truck orders off pattern
Class 8 truck orders from suppliers are not following their typical pattern. In a typical year, orders are high in September and October as manufacturers are opening their order books to replenish fleets that have gotten rid of older model or problematic vehicles they previously parted with. This year, that has not been happening.
In a typical year, during the month of September producers see over 30,750 orders placed. This year, that is down to 27,400 units ordered. In a typical October month, producers see over 39,085 orders, but hit a sharp decline this year with only 21,900 orders placed.
This lack of orders is not due to a lack in demand, however. Difficulties through the supply chain won’t let truck producers meet the needs of their customers with such low inventory accompanied by the high cost of materials, so while demand remains high, supply needs cannot be met.
Experts have a difficult time estimating when limitations will clear and production will start to move forward steadily again. A lot of issues in factories need to be worked out for the supply chain to “get back to being healthy.”
With Class 8 orders falling short and no definite prediction to when production will be brought back to life again, many truck buyers are looking at late model semi tractors from other sources - auction companies being one of those.
In recent months, auction companies such as Taylor & Martin have had a wide variety of inventory including late model and low mileage vehicles to keep trucking companies on the road for the long haul.