A timeline for a rebound in freight rates and market conditions remains muddy into the second half of 2024, according to executives and analysts.

Trucking’s lingering freight recession, combined with a steep decline in spot market rates for carriers over the last 18 months, is tightening capacity, according to FMCSA data and FTR Intel.

U.S. trailer orders fell year-over-year for the first time in five months in November and plunged more than 40% month-over-month, according to preliminary data released by ACT Research. 

Soaring diesel prices are likely to push more trucking companies out of business, especially smaller carriers, after casualties already spiked in the first two-thirds of the year.

Production of trailers in the United States is set to decline for five consecutive quarters before increasing in the final three months of 2024, according to one expert.

Sentiment is growing that U.S. demand for Class 8 trucks in 2024 is likely to be better than expected, according to an analyst at the FTR Transportation Intelligence Transportation Conference.

North American Class 8 orders in March ended a short-lived recovery by dropping to 19,200 units, ACT Research reported.

FTR, an economic and freight forecasting firm, announced it appointed Jonathan Starks CEO of the company, replacing Eric Starks, who will be transitioning to chairman of the board.

North American Class 8 orders in March were just over 21,000 and kept pace with the levels over the past few months, ACT Research reported, citing truck makers’ preliminary data.

U.S. trailer net orders in August reached 12,366, ACT Research reported as the persistent story of pent-up customer demand, various supply chains faltering and order boards opening partially, if at all, continued.