Trucks, trailers, tonnage: What transport data says about the state of the industry

Economic forces, consumer demand, seasonality, natural disasters and myriad other factors contribute to transport’s cyclical market.

The charts below show the latest data on Class 8 truck orders, trailer orders, monthly tonnage, linehaul rates and load-to-truck ratios. We’ll update this page frequently as new data is released.

Load-to-truck ratios

Load-to-truck ratios from DAT Freight & Analytics serve as indicators of supply and demand in the spot market. The ratio is calculated based on the number of load posts compared to the number of truck posts on the DAT One load board. Ratio changes can signal upcoming fluctuations in spot rates.

Load-to-truck ratios decreased across the board the week beginning Dec. 3 compared to the previous week. DAT reported:

• Dry van decreased from 3.5 to 1.9 loads per truck
• Reefer decreased from 3.6 to 2 loads per truck
• Flatbed decreased from 7.5 to 5 loads per truck

“The number of loads on the DAT One network fell by 37.1% to 867,959 last week, retreating from the 156% surge during the week after Thanksgiving,” DAT said in a statement. Meanwhile, truck posts the week of Dec. 3 rose 5.9% to 357,011, according to the data and analytics firm.

Updated Dec. 14, 2023

Load-to-truck ratios

Spot linehaul rates

DAT’s linehaul rates measure the seven-day weekly moving average for spot rates in dry van, reefer and flatbed hauls. They often reflect the balance of supply and demand in the spot market. The rates are derived from DAT’s RateView database and do not include a fuel surcharge.

National benchmark average rates dropped across multiple equipment types during the week beginning Dec. 3, compared to the previous week. While dry van essentially stayed flat at $1.64 per mile, reefer dropped by 4 cents to $1.90, and flatbed slipped by a penny to $1.85, per DAT data.

Spot market rates in dry van and reefer are tracking similar to 2019 levels. But the flatbed average is about 5 cents higher than it was four years ago, DAT Principal Analyst Dean Croke said on a weekly market update.

Updated Dec. 14, 2023

Spot linehaul rates

Class 8 orders

Preliminary Class 8 net orders increased from October to November, reaching 36,750 units, according to a monthly report from FTR. That’s a slight increase from the same time last year when the total was 35,649.

“Despite prolonged weakness in the overall freight market, fleets continue to be willing to order new equipment,” FTR Board Chairman Eric Starks said in a statement.

Updated Dec. 7, 2023

Class 8 net truck orders in North America

Tonnage

The American Trucking Associations has been tracking tonnage, calculating the index based on member surveys, since the 1970s. In the chart below, the baseline is 100, which represents conditions in 2015. Tonnage primarily reflects freight movement through contracts versus on the spot market.

The ATA Truck Tonnage Index increased by 1.1% to 115.2, compared to the prior month when seasonally adjusted.

“Despite the monthly gain, truck freight remains soft as it continues to contract on a year-over-year basis,” ATA Chief Economist Bob Costello said in a monthly report, noting the spot market’s weakness.

Updated Nov. 29, 2023

For-hire truck tonnage index

Trailers

Preliminary trailer orders in October were over 34,000 units, increasing 21% month over month but down from over 48,000 units year over year, according to FTR data.

“Build improved 4% m/m in October but lagged net orders, so backlogs rose for only the second time in 2023,” FTR said in a monthly report.

Updated Nov. 22, 2023

Net U.S. trailer orders

Truckload linehaul rates

The Truckload Linehaul Index from Cass measures per-mile linehaul rates. In the chart below, the baseline is 100, which represents conditions in 2005. Rates fluctuate as a result of supply, demand and balance (or a lack thereof) in the market, but they also include factors such as fuel prices and insurance costs.

The index, which includes spot and contract freight, erased a September gain, dropping in October by 0.6% to 141.1, Cass reported. That also marked an 8% decline year over year.

“The October level was a new cycle low, but only 0.1% below August, as truckload rate trends have been stabilizing, albeit still finding a bottom,” Cass said in a monthly report.

Updated Nov. 16, 2023

Truckload Linehaul Index