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.
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Class 8 orders
Preliminary Class 8 net orders increased to 13,400 units in August, from 12,400 units in July, according to a report from FTR.
Remarking on the small uptick, FTR said the typical increase during that time is around 20%.
"The combination of a stagnant truck freight market and full or nearly full 2024 order boards presumably are the main factors behind a smaller than typical increase," the firm said.
Class 8 net truck orders in North America
Load-to-truck ratios
Load-to-truck ratios from DAT Freight & Analytics 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 the DAT One load board. Ratio changes can signal upcoming fluctuations in spot rates.
Load-to-truck ratios decreased across equipment types for the week beginning Aug. 18, compared to the previous seven-day period. DAT reported:
- Dry van stayed decreased from 3.7 to 3.4 loads per truck
- Reefer declined from 5.9 to 5.7 loads per truck
- Flatbed fell from 10.4 to 10 loads per truck
Dry van load post volumes were "9% lower last week and 22% behind last year as we approach the end–of the month/quarter during brake check week and the Canadian rail strike right before Labor Day," DAT Principal Analyst Dean Croke wrote in a blog post. "This is most likely the calm before the storm regarding market disruption."
Load-to-truck ratios
Spot linehaul rates
DAT’s linehaul rates measure a seven-day 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.
National benchmark averages were mixed the week of Aug. 18, compared to the previous week. Per DAT:
- Dry van decreased by a penny to $1.61
- Reefer stayed flat at $1.97
- Flatbed stayed flat at $1.97
Spot rates were flat at $1.99 on DAT's top 50 lanes, Croke said on a weekly market update. He also noted a railroad unionized labor dispute in Canada affected some routes, particularly longhaul lanes, and cross-border volumes increased.
Spot linehaul rates
Trailers
Net trailer orders were down 38% year over year to 5,961 units, compared to 9,611 units in July 2023, according to FTR data. However, last month's orders were up 26% from June's total of 4,749 units.
"Although some trailer segments experienced m/m improvements in net orders, the challenging truck freight environment continues to suppress U.S. trailer demand for 2024," FTR said in its report.
Net U.S. trailer orders
Tonnage
The ATA Truck Tonnage Index increased by 0.3% in July to 113.7 compared to the previous month when seasonally adjusted, per a news release. The organization also revised June's figure downward to 113.3, from a previous estimate of 113.5.
“While July wasn’t a strong month, we see continued evidence that the truck freight market is likely turning a corner, albeit slowly,” ATA Chief Economist Bob Costello said in a monthly report.
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, which includes spot and contract freight, decreased by 1% in July compared to June, Cass reported. That represented a 3.2% decline year over year.
“The y/y decline of 3.2% widened from 2.4% in June,” ACT Research VP and Senior Analyst Tim Denoyer wrote for Cass’ monthly report. “While this has narrowed from a 15% y/y decline a year ago, it seems unlikely to turn positive quickly.”