Preliminary Class 8 truck orders fell 47% year over year in November, underscoring continued weakness in new equipment demand as carriers grapple with soft freight, flat spot rates, and higher operating costs, according to ACT Research.
Orders and Equipment Signals
ACT Research reported that preliminary Classes 5–8 net orders slowed in November, with Class 8 leading the decline on a year-over-year basis. The firm noted that earlier “pull-forward” ordering created a subsequent gap in demand, contributing to the current slowdown.
- Used truck sales posted a fifth consecutive year-over-year increase, signaling ongoing fleet right-sizing and preference for lower-capex equipment.
- Trailer demand remains guarded. Reefer and tank segments are seeing elevated cancellation activity, reflecting cautious capital spending and uneven freight needs.
Freight Fundamentals Remain Soft
ACT’s latest Freight Forecast and its For-Hire Trucking Index point to a cooler supply-demand balance through the fall as both volumes and available capacity slipped in October. Industry executives report that shippers continue to push for rate reductions while carriers face higher input costs, compressing margins.
Overall freight demand has lagged, keeping spot pricing mostly stable. At the same time, indicators tied to truckload carrier counts appear low compared with pre-pandemic levels, even as total freight has grown—an unusual mix that has delayed a broad-based rate recovery.
Regulatory, Trade, and Mode-Shift Pressures
Compliance and training oversight remain in focus. Federal transportation regulators have signaled tougher enforcement on noncompliant driver training programs, with potential closures for providers that fail to meet standards. Industry groups have also called for actions targeting fraudulent operators to level the playing field and improve safety.
Cross-border flows continue to feel the effects of tariffs on auto-related goods. C.H. Robinson has noted softer southbound demand tied to parts and materials, adding to an already cautious freight backdrop.
Modal competition is another near-term factor. Some carrier leaders warn that certain over-the-road volumes could shift to intermodal as rail network changes and integrations promise more direct routes, shorter transit times, and potential cost savings for shippers.
Outlook
ACT Research expects any upturn to emerge slowly and unevenly. While pockets of improvement are developing, a material rate recovery is more likely to take shape into 2026 as capacity and demand gradually rebalance.