In this week's State of the Fleet Industry video, Mike Antich breaks down various economic indicators and their impact on fleets, such as interest rates, the construction and housing markets, supply chain, vehicle inventory, and fuel prices.
Truck tonnage has flattened out, according to the American Trucking Associations, which has seen its tonnage Index fall slightly for two months in a row.
Topics mentioned in this video include, if budget cuts materialize, where will that occur in fleet; recovery of the U.S. economy and what that means for fleets; and potential industry concerns that could impact recovery.
The sudden, devastating economic collapse caused by the COVID-19 pandemic was so unprecedented, that even seasoned economists admit it’s difficult to predict what the recovery will look like.
Topics mentioned in today's video includes an outlook of U.S. economic conditions; strong auction sales for the month of July; and a forecasted increase in vehicles in the wholesale used-vehicle market, putting downward pressure on prices.
Topics mentioned in today's video includes: The recovery of the national economy; overview of the Purchasing Managers Index (PMI); fleet and retail sales trends; the results of Automotive Fleet's latest COVID-19 pulse survey; trends in the wholesale used vehicle market; and more.
A number of commercial fleets are planning to order fewer fleet vehicles in MY-2021, but the majority of surveyed fleet managers state there will be no change in order volumes and will stick to pre-existing replacement schedules.
With all 50 states relaxing COVID-19 shutdown orders to various extents, trucking shipments and rates are heading back up – but don't expect a true recovery until 2021.
According to FTR’s projections for its Trucking Conditions Index, a combination of drastic declines in freight volumes, utilization, and rates due to the COVID-19 pandemic could lead to the worst overall trucking conditions on record during the second quarter of this year.
Season two of the HDT Talks Trucking podcast is now available, covering topics such as California’s AB5 law restricting the use of independent contractors, autonomous trucks, electric trucks, and reducing unscheduled downtime.
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