Economic forces, consumer demand, seasonality, natural disasters and myriad other factors contribute to transport's cyclical market.
The charts below show the latest data on Class 8 truck orders, trailer orders, monthly tonnage, linehaul rates and load-to-truck ratios. We'll update this page frequently as new data is released.
Comments, questions or feedback? Please send an email to: [email protected].
Class 8 orders
Class 8 truck orders point to confidence in the market and the need to scale up capacity in anticipation of freight demand. Fleets buy trucks to replace the older models in their inventory, or to aid expansion.
Preliminary Class 8 orders in July fell to 10,600 units, its lowest level since November 2021, according to FTR data. The decline continues a trend of limited OEM build potential amid parts supply constraints.
"The continued supply chain disruptions are limiting OEM output in 2022 and the fluctuating cost of materials and components has caused delays in confirming orders for shipment next year," FTR said in a statement.
Don Ake, vice president of commercial vehicles for FTR, noted that July is typically the weakest order month of the year. But he added that while the supply chain is improving very slowly, it's "not nearly enough to meet demand."
Class 8 net truck orders in North America
Spot linehaul rates
DAT's linehaul rates measure the seven-day weekly moving average for spot rates in dry van, reefer and flatbed hauls. They often reflect the balance of supply and demand in the spot market. The rates are derived from DAT's RateView database and do not include a fuel surcharge.
The national average linehaul spot rate for the week of July 24 to July 30 increased by 2 cents to $1.94 for dry van freight compared to the previous week, according to DAT data. Reefer rates increased by 2 cents to $2.21 per mile, while flatbed dropped by less than 1 cent to $2.43 per mile.
Spot linehaul rates
Load-to-truck ratios
Load-to-truck ratios from DAT serve as indicators of supply and demand in the spot market. The ratio is calculated based on the number of load posts compared to the number of truck posts on DAT Load Boards. Ratio changes can signal upcoming fluctuations in spot rates.
Compared to the previous week, load-to-truck ratios from July 24 to July 30 showed increases across the board, according to DAT numbers:
- Dry van increased from 3.3 to 4 loads per truck
- Reefer increased from 6 to 7.5 loads per truck
- Flatbed increased from 19 to 19.6 loads per truck
Load-to-truck ratios
Trailers
FTR's trailer data covers orders for dry vans, refrigerated vans and flatbeds. Orders for trailers, like the Class 8 orders, signal confidence in the market and anticipation of strong business conditions.
Preliminary trailer orders totaled 14,400 units in June, a decrease from 18,300 the previous month. Orders were up 20% YoY.
"The order number for June met expectations, as OEMs have filled most of the available build slots and are not yet booking orders for 2023," FTR wrote.
Don Ake, FTR's vice president of commercial vehicles, said there are limited build slots available due to ongoing supply chain disruptions. He added that although orders remain sluggish through the summer, there's a potential for a record order volumes in Q4.
For now, scarce component parts, unstable commodity costs and other variables are making quotes difficult, he noted.
Net U.S. trailer orders
Tonnage
The American Trucking Associations has been tracking tonnage, calculating the index based on member surveys, since the 1970s. In the chart below, the baseline is 100, which represents conditions in 2015. Tonnage primarily reflects freight movement through contracts versus on the spot market.
The tonnage index marked 120.1, seasonally adjusted, in June. That's a 2.7% increase from May's index, which ATA revised down to 116.9 from its release last month.
"Essentially, the market is transitioning back to pre-pandemic shares of contract versus spot market," said ATA Chief Economist Bob Costello.
For-hire truck tonnage index
Truckload linehaul rates
The Truckload Linehaul Index from Cass measures per-mile linehaul rates. In the chart below, the baseline is 100, which represents conditions in 2005. Rates fluctuate as a result of supply, demand and balance (or a lack thereof) in the market, but they also include factors such as fuel prices and insurance costs.
The index decreased from 168.6 in May to 165.7 in June.
Demand is falling, capacity is growing briskly, and fuel surcharges to shippers — excluded in this index — will "likely act as a brake on linehaul rates," according to Cass.
