Fleet survey indicates increased activity for Class 8 orders in Q3 2013

Aug. 6, 2013

Sixty-five percent of the fleet executives that responded to the Q3 2013 Fleet Sentiment survey conducted by CK Commercial Vehicle Research (www.ckcvr.com) in late July indicated they planned to place orders for Class 8 trucks in the next three months. This is an increase from the 53% that responded affirmatively during the Q2 survey in April.

The estimated size of those orders was down quarter/quarter but significantly higher year over year, 6.1% of participants' inventory in Q3 13 versus 1.4% in Q3 12. Expected trailer order activity was down in Q3 quarter/quarter and year/year. Overall the CKCVR Buying Index, which combines both planned tractor and trailer orders, calculated to 95.2 for Q3 2013, a 2% decline from Q2 results but a 9% improvement over the Q3 2012 reading.

Details from the quarterly survey are published in the Fleet Sentiment Report www.ckcvr.com/fleet-sentiment. Other highlights from the Q3 2013 Fleet Sentimentsurvey:

*The percentage of fleets that "need more equipment" to meet freight demand continues to grow.

*Average age for Class 8 vehicles for group responding is 5.2 years--trailers at 8.9 years. 

*Overall environment at the fleets surveyed is good.

*More than half of units operated by the group responding are reported to have an average length of haul of less than 500 miles. 

A Special Supplement to the Fleet Sentiment Report indicates:

*Few fleets expect equipment purchases to change because of new Hours of Service rules.

*Most are skeptical of OEM claims of a better truck due to more vertical integration of components.

*Some movement away from the International brand due to engine issue. However price has lured some to the brand. 

Forty eight fleets participated in the Q3 2013 Fleet Sentiment and Special Supplemental Report Survey. They operate in excess of 31,000 Class 8 trucks and 86,000 trailers. Responses were received between July 17 and July 26. CK Commercial Vehicle Research has been surveying fleets for more than a decade and data reported in the Fleet Sentiment Report tracks activity from 2006. More information about the Fleet Sentiment Report and other CK Commercial Vehicle reporting can be found at www.ckcvr.com.

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