Truck Market Remains Resilient Despite Pandemic Woes
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Class 8 truck orders remain high despite weak freight market, indicating private fleet growth and increased vocational spending.
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Flatbed market fared better than van and refrigerated markets during pandemic due to differences in freight type.
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LTL market buffered from broader troubles thanks to Yellow's failure leading competitors to raise rates.
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Public truckload carriers mostly saw fleet reductions, except where mergers and acquisitions occurred.
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Used truck prices better indicate industry health than new Class 8 orders, with prices plummeting behind spot market drop.