Prices for used trucks were triple or more during the pandemic when truckload volumes were soaring to uncharted heights.
Fleets were unable to get any new trucks because of the shortage of computer chips and other parts kept the OEMs from accepting new orders. The shortages are not exactly over with, but orders are now being accepted and the carriers are stepping up in a huge way.
As Alan Adler reported in FreightWaves, September was a record month for Class 8 truck orders. It’s a great headline, but…
Sure, there is pent-up demand and future sales are a guarantee for the OEMs in the form of more emissions regulations. What? You’re not suggesting that….oh, I see…
But, the big thing here is that the OEMs are allowing orders on the books for the first time in, well, quite some time. So, no, don’t go crazy thinking that the freight recession is over because enterprise fleets are buying equipment. They are just now being allowed to buy new equipment.
So, something good is happening, but who is getting screwed? Excellent question.
Aside from the guaranteed future sales mandates (I mean emissions mandates), I would look to those that are struggling to pay the note on that now 5-year-old truck they bought for $150,000 back in 2020 when it was 3 years young.
Enterprise carriers get new trucks and flood the market with cheap used equipment. That headline doesn’t sound quite as catchy.
This dude didn’t think so either. CDL Life reports that a man getting his “18-wheelers” repo’d was acting all crazy. Get out of town! For real?
He was so out of his mind after having his dome shaved by some hot lead viciously hurled at him by the repo man that he tried to escape into an apartment complex for the elderly. He then came to his senses and tried to escape in a pick-up truck hauling a camper while exchanging gunfire with police.
Dustin Slocum wishes his wife was in that camper, even if it did turn over. He instead got a 130-mile white knuckle ride on the back of a flatbed. According to a report by CDL Life, he was found hanging to the back bars of the flatbed 130 miles from Wichita where he had jumped on the trailer “looking for his wife.”
A quick shoot-out with the repo man and a run through grandma’s apartment sounds like more fun to me.
Man has his dome shaved by hot lead after OEMs book record Class 8 truck orders in September.
Hmm… I like it!
Peace and love.