Commercial Trucking Trends in 2018

If the U.S. manufacturing sector is doing well, chances are the commercial trucking industry is doing well too. The two industries depend on one another for survival. In fact, over 70% of all U.S. freight moved across the country is in the trailers of commercial trucks.

Because of the renewed demand for U.S. manufactured goods, many companies are promising to bring back jobs to the U.S., leading many analysts to predict the trucking industry to grow by 3.4% in 2018. That being said, there are some concerns facing carriers including new mandates and unexpected competition.

The Most Popular Trucks in 2017

Every year, the industry research firm EDA releases a list of the top ten trucks financed over the previous year. They recently released their list for 2017, and it is as follows:

EQUIPMENT TYPE                 UNITS            BUYERS

·        Class 8 Truck                 849,681            252,705

·        Mechanic                        171,994           161,832

·        Class 7 Truck                    92,711             38,064

·        Class 6 Truck                   64,438              34,300

·        Svc Vehicle Body               9,763                4,989

·        Class 5 Truck                     1,452                   852

·        Bus                                       454                    200

·        Class 4 Truck                       439                    303

·        Class 3 Truck                       167                    152

·        Class 2 Truck                       137                    106

Class 8 trucks were by far the most popular option for most carriers because of their reliability, flexibility, and towing capacity. Carriers from across the country were eager to fill their fleets with these vehicles and financiers responded.

Because of this increase in demand, experts estimate that 2018 will see more buyers seeking financing options as carriers continue to build up their fleets. These predictions aren’t misplaced, as December 2017 set records for equipment purchases in both trucks and trailers.

Numbers from December 2017

ACT, a leading industry firm reported that orders for Class 8 trucks in North America rose to a new record 37-month high during the month. As more manufacturers and carriers sought new vehicles to haul their goods and to build up their fleet in response to new demands, carriers broke out their wallets and made huge investments. They bought more than just trucks, however, as trailers saw a boost as well.

Record Sales for Trailers

Research firm FTR reported that along with the rise of truck purchases, trailer orders rose to 47,000 in December. This was the highest purchase record since October of 2014 and shows positive signs for growth in the future.

How Will Carriers Deal with the ELD Mandate?

While driver safety is a top concern for most carriers, the government has issued a new mandate that all commercial trucks be equipped with Electronic Logging Devices (ELDs) in 2018 to limit the time drivers spend behind the wheel. Under the new order, drivers can't exceed 50 hours each week and must take two full days off the rest and recover. The mandate is forcing carriers to reduce the workload of drivers, and many companies fear they won't be able to ship as much as they used to.

Looking Towards the Future

With all of this in consideration, the commercial trucking industry is still expected to be a prominent component of logistics across the country. If carriers can successfully adapt and implement these new devices, they should be able to get their fleet up and running to old levels without much trouble.