Transport Topics Staff This story appears in the Dec. 24 & 31 print edition of Transport Topics.
U.S. retail truck sales and freight tonnage — two key barometers of the industry’s health — moved in opposite directions in November, and for different reasons.
Truck sales fell 15.6% from a year earlier, WardsAuto.com reported, as the uncertainty about future U.S. fiscal policy has made fleets skittish about investing.
At the same time, a resumption of more typical freight patterns pushed American Trucking Associations’ tonnage index up 1%, following a 2.1% decline in October, due to the effects of Superstorm Sandy.
“It’s an interesting market today, with opposing forces at work,” said John Walsh, vice president of marketing at Mack Trucks. “On the one hand, there’s a tendency for customers to delay purchases because of concerns around the ‘fiscal cliff,’ slow job growth and the global economy. On the other, the age of the existing fleet and associated rising maintenance and overall operating costs are exerting pressure to replace older vehicles.”
ATA said the tonnage growth reflected shipments of food and other essentials.
“Sandy was a major factor in tonnage” for both October’s decline and November’s growth, said Bob Costello, chief economist at ATA.
Until October’s decline, tonnage had gained on a year-over-year basis in every month since December 2009.
Detailed stories on truck sales and tonnage are on p. 3.
