Monday, January 24, 2011

Outlook Improves for Trucking Industry

There are signs that the economy is rebounding and trucking may be among the first industries to reap the rewards.

November Class 8 truck orders for North America was up 38% over October, according to the FTR Associates. That is the highest monthly order increase in more than 4 years and the fourth consecutive month that orders increased. This includes orders in the United States, Canada, Mexico and exports.

Eric Starks, president of FTR said, “This can be chalked up as a win for the industry. The fact that truckers are willing to start ordering equipment is certainly a good sign.”

Leasing companies and large fleets pushed those numbers higher, and forecasters say until small and medium-size fleets begin placing orders, “we will continue to be optimistic, but with a degree of caution.”

In another positive sign, lenders say they have capital and are ready to work with trucking companies to borrow money.

Crestmark Transportation Services say now is an ideal time to do a financial tune up and start making plans for the New Year for how they need to operate or grow their business.

Trucking moves America and any resurgence in equipment purchases, financial transactions and an open credit market are good signs for everyone.

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