Among many other things, 2021 saw a lot of attention on the delays in OEMs to deliver brand-new Class 8 trucks to market. Supply chain issues and shortages of chips have been labelled the biggest reasons why these delays have been building over the course of the past year.
Carriers have felt the squeeze this year in more ways than one. While it appears as though freight is strong, shortages of drivers have been troubling many carriers and there is no end in sight to this problem. However, equipment delays have created an even more tumultuous time for carriers, many of whom have to reconsider their strategies to vehicle replacement cycles.
Passenger cars and other vehicles have also experienced similar problems. Throughout the world, supply chains are still reacting to the events of the pandemic that occurred months ago, and while OEMs are surely keen to produce trucks as fast as they can, delays appear to be inevitable.
The used truck market is also being affected by the shortage of new vehicles. As some carriers are forced to delay the retirement of some of their fleet, used lots do not have the same selection as years before. In addition, the increases in emissions technology and electronic logging device rules in the USA and Canada have increased the value of some older, traditional trucks which allow their operators to avoid certain aspects of compliance.
