Fleets Attaining “Record Contract Rates”

Fleets Attaining “Record Contract Rates”

About 7% of Class 8 tractors are currently unseated, with 62% of fleets reporting that as being higher than usual, according to a survey by ACT Research.

Only 14% of responding fleets said their unseated tractor level is below average. However, the latest ACT For-Hire Trucking Index shows freight volumes are decreasing and capacity is rising, which has resulted in a balanced market.

“The September survey showed downticks across each of the volume, productivity and capacity results, though freight rates improved from August,” said Tim Denoyer, ACT Research’s vice-president and senior analyst. “The for-hire industry has secured record contract rates this year, but accelerating Class 8 tractor production and slowing freight growth are helping to rebalance the market.”

The survey also found 55.5% of fleets are planning to buy new trucks in the next three months, an increase from 54.7% in August.