27,000 Class 8 Trucks Hitting the Market in March 2024! Bye-Bye Truck Sales 👋
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- Опубликовано: 18 май 2024
- 27,000 Class 8 Trucks Hitting the Market in March 2024! Bye-Bye Truck Sales 👋
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Join Ronen as he dives into the unprecedented surge of 27,000 Class 8 trucks hitting the market in March 2024. With this staggering influx, truck drivers, owner operators, and small fleet owners face a landscape of uncertainty. Dealerships are feeling the heat, pressured to move this massive inventory while the industry holds its breath for market stability. But what does this mean for you? Stay tuned as we unravel the impact on freight rates, layovers, and the broader trucking community. Brace yourselves for the changing tides of the trucking industry!
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📚 Chapters
00:00 Introduction - 27,000 Class 8 Trucks Flood March 2024!
00:39 Semi Truck Market Sales
01:02 Semi Truck Dealerships
01:22 Understanding Brand New Truck Sales and it's Ripple Effect on the Trucking Industry
01:56 Used Truck Sales Declining
02:26 Freight Rates
02:50 Cancellations of New Truck Orders
03:23 Truck Dealerships are Packed with New Equipment
03:36 But what does this mean for you?
04:02 27,000 New Trucks Hitting the Market
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200,000 for a new truck is crazy, no truck is worth 200,000. And no pickup truck is worth 100,000
Agree with you 💯 percent. I can’t believe people are that stupid to make those deals. Then those same people complain about not being able to afford to make those payments.
Exactly!
Just curious what was price of a new sleeper truck like 2010
I would think this is a good thing, more supply of new trucks means that prices will continue to come down, which needs to happen. Truck prices have been outrageous the last few years.
its NOT 27k tractors hitting the road. Its 27k trucks into inventory sir. You said that yourself
Did you read the title, it says 27k trucks hitting the market! Not the road
4:51 Im referring to what he said towards the end of the video@@youngstunt8829
200k they're crazy, still on that covid high. I'm just going to buy a new engine and replace everything on my truck, cheaper.
I don't blame you. I wouldn't buy a new rig with these ridiculous rates on freight
These dealers have screwed us over the last few years,, I had a local KW dealership tell me a couple years ago to pay the price our walk out without it, they called me last trying to make a sale his exact words were sales where slow and they were reaching out for sales,, my exact words was fuck you and I hung up I will never buy anything from them ever.
Great videos
Hey man, hope you are doing well r u looking for an experience dispatcher for your company ?
,😂😂
@@raoikram1426
No sir thanks we do our own
People who can’t sell a 4 year old truck are stuck in 2021 thinking trucks still appreciate or at least hold 100% of their value. But those days are gone.
Who’s stupid enough to buy a truck in this economy
The ones who know what they are doing will always buy no matter what!!!!!
The smart ones will buy now whole the equipment is starting to plummet
Like stocks u buy when low you sell when high
@bigbaby4584 That's right 3 years ago, wasn't the time, it was a different market,
but now it's starting to correct itself,
I just purchased a used truck for half the price, I would've paid 2-3 years ago, when I was thinking of getting into the business
Dont forget there are 2 military conflicts going on at the moment. Those supplies and munitions need to be constantly replenished regardless of what a dollar store is doing here. Many carriers may be crossdocking those components/ supplies, and the drivers, dispatchers, etc. dont even know it.
Nationwide cargo out off Chicago just filed chapter 11 bancruptcy 200 units company
Makes me feel good, trucks get even cheaper.
Just the no-so-good ones. The good brands have dealers with a lot less, to no, inventory left. I'd say that if you find a dealership with a lot of extra inventory, you should be asking yourself 'why?' Why would a brand thought to be 'great' among some not be sold out when others are?
Running mine until something God forbid catastrophic happens, I thought about replacing it, but I don't think I can afford payments in today's market, rather roll the dice with maintenance expenses.
If it goes south, at least I'm not in debt, and I would maybe get a job as a company driver, or just leave the industry for good.
Hey man, hope you are doing well r u looking for an experience dispatcher for your company ?
Here you go…you got yourself a dispatch…so you can pay someone from $1 per mile some percentage 😂😂😂😂
I won’t even consider to buy a used truck…never mind buying a new truck.
This super cheap market will destroy a lot of jobs in the entire North American continent…not just trucking but even across the globe.
I went to few dealership Saturday and at part department was empty…just me.
When market was good I have to wait for a considerable time to be served due to so many ordering parts….this time was just me.
Have a new 579... all Paccar automated company truck.
I am old school... new trucks? Well, ride great, are comfortable and quiet. Run pretty good with small engines, BUT!
This thing is tearing itself up the way it shifts itself TOO often, engine brake is way too rough on driveline, when going back on accel after coaster brake, big torque slam on driveline... all kinds of sensor inop seek service warnings.
New no experience drivers will think truck tearing itself up is normal... Smh.
Holding a new truck for 5-6 years means the truck will be worthless at that point, regardless of the market because the engine, emissions, and all accessories will be run out.
Yeah but if your smart man like me and pay your taxes trade it in for another new one bud!
@@rigobertoespinoza1685
Not many taxes to be paid…if any😂😂😂😂
Many will dig into credit cards,loans etc hoping to survive…a magic formula to disaster…they might even pay off for their junkier equipment hoping to stay afloat with their ruined equipment…then bill from the expenses plus repairs will eat them alive.
Don’t ask me how I know how I know about this stuff….😂😂😂😂
Hitting the Market or Hitting the road? That is 2 different things. How many new Authorities have been approved?
He contradicted himself. After saying 27k will be hitting the road, he went on to say that Authorities are pushing back even cancelling orders. Sounds like those 27k trucks will be sitting in lots not rolling on pavement.
2,000 MCs NET loss per month for last 18 months per FMCSA ✅☠️☠️☠️
Those auctions had some very interesting selections. Might be able to just buy a unit super dirt cheap, and possibly sit it out till/if the market recovers. Seemed to be lots of day cabs for local work.
Always like watching your videos Ronen, viewing from Kingston Jamaica 🇯🇲 👍
I’m seeing brand new trucks at auctions now with under 1,000 miles.😮
😱😱😱
Is auction truck acceptable in the industry will broker get me load ????
@@aziziddrisu7858 brokers don’t care where the truck comes from.
Wow what auction?
That's probably where the real deals are
Direct from shipper loads are still oaying $3 to $6 per mile so i dont see the problem just get rid of the brokers 😅
Totally agree 😂
Their income doesn’t have to be lowered…because they have repairs to be made….they have to fix their lights at their desk😂😂😂😂
Thanks for all the information you help me very much
You're most welcome!
It should happen! the prices are way more higher compared to average yearly earnings. Called some dealers for newer trucks, same answer nothing in stock for newer inventory.
Dealerships are definitely raising the prices by a lot! This is an experience we are all too familiar with! We actually have a video coming out on this very soon
Trucks are sold cheap but it's not cheap at all if you can't make money with it. Making money driving truck is impossible in today's freight market
Are they hitting the roads or just sitting on a dealer lot somewhere with no buyers?
What he said about 27k hitting the road doesn't make sense and your question is a good one. He contradicted himself. Just because the dealers will be getting 27k trucks doesn't mean those trucks will see pavement any time soon. If companies are pushing back orders or even cancelling orders how does that equate to all those trucks actually hitting the road?
So far they're hitting just dealers yards.
What adds to the market frustration is a pull back in capital markets to offer inventory financing for trucks. Right now all my hedge fund managers have dumped their truck inventory finance and are shorting manufacturers, and specialized truck finance companies.
Yikessssss
It seems like the country is in a recession.
It’s time for these dealerships to pay back, Karma is 🐩🤣😂🤣😂
Haha, karma does what karma does!
I recently canceled my order of 9 new 2024 389 Pete's. My Q2 will be low by 12%, and the remaining quarters will be down. The industry is in bad shape, and as you've mentioned, 2024 will be worse than 2023. I'm forced to keep my existing assets that will have 5 yrs come April. I have frozen any pay increases and stopped new hiring.
Let's hope there's a market correction in the near future
speaking from experience from last 15 years, the biggest thing about trucking market that it never tells when it will be changed. But it is best time to buy you will not going to find opportunity in near future probably for next 6 quarters when market turns up
Valid, valid.
So much for your (big companies) warranty repair costs too 🎉🎉
Yeah, imagine the amount of maintenance costs just on emissions systems during year 4 through 6 of ownership..
I think this is good to help truck prices to come down. Also I believe that people that have gave up or done with trucking, due to market and can’t pay their expenses. They will not come back to trucking any time soon. I also think there are more people going out of truck or giving up then there are people coming in.
You thought a lot of things, but surprisingly you didn't think of anything wrong... Keep up the good work!
This Company s don t Pay the Price what a Owner Operator pay.
I came off the road about 4 months ago and got into insurance. Dunno if I’ll go back
Has it been worth it so far?
A real trucker never folds dont come back.
@@georgekoko69 absolutely but it’s that same hustle mindset if you’re in it for the $, commission is so much better
They should drop the price down
I sold my truck and flatbed about 2 yrs ago, I think this is the right moment to get in with a 2019-2021 truck for 40k to 55k
What do you think. ?
The trucking industry is definitely facing a crossroads. Some companies are using their profits from the recent boom to upgrade their fleets, while others are continuing to operate with aging trucks in an effort to save money. It remains to be seen which approach will be more successful in the long run.
Those who are investing in new trucks are doing so in anticipation of a downturn in the market. They know that older trucks are more likely to break down, which can lead to costly downtime and lost revenue. In addition, newer trucks are more fuel-efficient and environmentally friendly, which can give companies a competitive advantage.
On the other hand, companies that are choosing to keep their older trucks are doing so in order to reduce costs. They are hoping that the market will remain strong and that they will be able to avoid the high upfront costs of purchasing new trucks. However, they are taking a risk that their trucks will break down more frequently, which could lead to even greater costs in the long run.
Only time will tell which approach will be more successful. However, one thing is for sure: the trucking industry is in a state of flux. The companies that are able to adapt to the changing market conditions will be the ones that are most likely to succeed.
Most of thoes companies with older fleets have their own maintenance shops and do extensive up keep on their trucks
This older trucks tend to be more reliable and while they have upkeep costs, tend to have less catastrophic breakdowns. I’m not an expert but just from what I’ve seen and experienced the new def systems are killing truck longevity.
It all depends on how they treat the frustrated driver. I think that this would be a good time to end eLogging and return to paper logging whereby the smart (owner operator) drivers can max his earning potential even at these low ball rates,
What are you talking about when you say they're hoping the market remains strong? The market is absolute dog shit right now
46 in the Trucking Industry with 4 years to go, one question, How Big Fool Does Someone Have to Be To Buy a New Truck, With All the Electronic, Smog Device, DEF , Troubles, I'm Dying to Read about all The Money that Can be Made With $ 4.00 a Gallon Fuel and $ 1.90 a mile rate. Not to Mention Insurance, Licensing , IFTA, and everything else.
It doesn't make sense to a broke person but people with money can buy new trucks and I've driven plenty of new trucks they have no problems there better than driving a old junk truck 😂😅
@@arunevaiciulyte7805I think the people comment don’t have money but claim they have been working for 200 years I be like bro where is your money with all this experience it just doesn’t add up 😅
@@edwardlawler9487my money is in my bank account and retirement instead of at a dealership lol I had three 2016 new trucks for 5 years and sold them. Reliability was my biggest complaint, way too many sensors and little things that would put them in the shop. It made me pretty upset when my three year old trucks where going to the shop four times more than my 20 year old truck. So much potential wasted 🤦♂️
@@williamharris1890I’m a peterbilt guy myself 389 simple and mean I can’t relate to other brands but if you was in the shop more than on the road yes that would suck and I’m a ever four year guy myself I sell all and rebuy all new and I’m just one dude with three trucks low overhead and some dedicated drivers who believe in what I believe in. I would love to retire but at 47 I would be bored asf so I’ll keep investing and let the trucks roll. Congrats on retirement it feels great as I did 21 years in the military and kept pushing enjoy 🎉
@@edwardlawler9487 thank you for your service sir. Just to clarify I’m not retired, I’m just putting money into it, I’m only 28. I’m with you on simple, that’s my cup of tea for sure. Mine where kw t880s with Paccar engines. One of them did pretty good, the other two were broke down a lot lol. Almost all emissions problems with fuel pump issues on all of them around 200k miles and turbos going out on two of them before 300k a few computers gone bad as well but mostly emissions. If it wouldn’t have been for the emissions issues they would have been decent. Maybe I just got a bad batch but I’m not willing to spend that much money again to find out. Or maybe the c12 cat set to high a standard. In my opinion they should do away with the emissions rules and just have efficiency standards. Just my opinion, Rock on brother
Another wrench into the gears is if you want a new truck you better buy before 25 models with kill switch I'll keep my older truck
I can add my own kill switch in an hour.
The local Freightliner dealer where I live is loaded with day cabs that nobody wants!
That's not surprising in the least
L.O.L. yeah !
I don't believe them plastic DEF trucks are worth anything anyway ! L.O.L. How much do you think a plastic car, van, pickup, semi - truck, etc. is worth to begin with ?
_As to what is currently happening, some of the wealthy corrupt people here in Congress are going to buy up the trucks, go to India, China, Mexico, bring them over here in the United States on visas to flood the trucking industry, which caused all this mess_
Looks like we found ourselves a dude that will be on CNN very soon......
You can only take this business model so far. Eventually, the fixed costs and fuel costs limit the ability of a business to accept lower freight rates.
What you're doing is extrapolating the hoary chestnut of low-paid immigrant drivers. When these newbies start getting screwed over, they tell their folks at home that the move is no longer worth it.
We can't buy new trucks that are durable and reliable, and you can't get parts. Let's alont access to diagnose. Your description of what happened when we had pre emmission trucks that didn't have an average of 8 weeks in the dealer.
When a water pump didn't cost more than a car.
Or roads that aren't being maintained to previous standards, like when we had a tax base to fix and replace the infastructure.
As long as we dont have an economy that even keiled so civil society can be an innovative machine that allows the USA to rock the logic and reason crowd and not the emotionally driven one we have now.
I.e. 2000, unexpected repairs 1,200 us dollars.
Self diagnosiable and great parts availability.
2023 , unexpected repairs. 63,000 us dollars.
Dealer only diagnostics, dealer only parts.
stuck in a hotel.... not generating an income to pay outrageous unexpected repower costs to get your customers delivery on time.
@@jonathanrabbitt No they won't because to them, they are making a fortune. The dollar buys more goods in their home country.
Luckily the prices are coming down I see kenworth offering 2025 t680 brand new for $165,000 including FET.
Just fine because when you pick up trash, you’ll never be out of a job.
Not worry, the brokers will end up asking for new equipment , truck and trailer, before they give you a cheap pay load. So everyone will run and buy new equipment, just watch what is going to happen.
Thus with payments you'll have no choice but be forced to run cheap loads
Good hopefully they go down on their price and quit price gouging everything
Haha, yes!
Good and bad 2020 are cheaper to buy now, but when I bought mines it was 100,000 plus now Il be finished paying for it in 2025 but my retail value wont be much wow
I'll pray that they don't make plastic Airplanes too !
What should we really do when broker say load is ready to pick up and you drove 100 miles to pick that load and shipper tells you that load is already been canceled 10 hours ago ..and now broker say am sorry am not responsible to pay anything ?
Honestly, I can't even begin to tell you what to do in that case, because it really is a situation where they can say "whoops, sorry about that" and I'm considering that we need to advocate for there to be legal repercussions in place for that.
Hey ronen u my dispatcher I’ve been sitting here all day waiting for a damn load. Can u stop uploading RUclips videos and give me a 2100 mile load? Thanks 😉
Ronen Let’s Go ! 😅
Hey man, hope you are doing well r u looking for an experience dispatcher for your company ?
No volume
@ET Transport Hy Man i am struggling to just trying to see if you have any dispatch jobs available i have more than 6 years of experience in dispatch market any help for me?
Two guys are going to buy new trucks, guys with money who have the contracts and are making money, second is bad, its the guy who knows the newer trucks are junk and thinks if he gets that new truck warranty hes golden, now of it doesn't sit on the shop with down time he might be able to survive if he can keep his wheels turning with slowed freight
I'm talking about the guys who can't afford repair bills so trade it in on a new truck, problem is used truck isn't worth anything, I watched a 2019 Kenworth T680 with 580K miles sell at the Kenworth dealership in Iowa for $37K he felt like they gave it away, he also felt like it didn't have much life left in is because of the mileage, and truthfully the shop is full of those trucks getting full inframe rebuild along with exhaust filter system replaced, $30K engine rebuild plus $10K exhaust, it's literally worth more than the truck, but you can expect to pay that very soon on a truck with 580K miles
Good deal for the small guy that needs a new truck
Its time for the small owners to eat.
Carb compliant,Def,ELD,cameras watching every move of the Trucker,speed limiters,too many unnecessary regulations messed up the Trucking in America,add to this cheap labor,low pay,flip flop drivers,go figure,😂😂😂
Some of them were definite boons, but I can agree that the majority of them feels like overkill at this point in time
The new trucks are junk to many sensors, emission problems way over priced way freight paying and labor cost work on it and parts and tires way to high never thought oil changes cost would be this high find old truck pay cash for it
Not enough info about your hypothetical. It could go either way. I'm happy new trucks come to market they cost those owners more
We are talking about 27k trucks, not 27k drivers. Your assertion that this will have an influence on the freight market, has to be wrong. If it will have any influence, it should actually push the rates higher. People driving new trucks will want higher prices in order to cover the truck costs. Old equipment cots will definitely go down.
I’m doing way way better as a driver 61cpm I parked in January and I’m not looking back in a long long time
Nice!
Hi Ronan
How to get in touch with you
Sorry Ronen correct name ..
I appreciate the correction! Shoot as email at sponsorship@ettransport.ca or message us on Instagram or Facebook, and we'll assist you accordingly!
Time for a minimum freight rate
Socialist much?
Ask Bernie Sanders. 😂😂😂
That’s a terrible idea. Have you not seen the terrible things minimum wage has already done to our economy?
@@pogveteranar9415 I guess not. What are the terrible things minimum wage has done to the economy?
@@haroldenglish943 Do YOU make minimum wage?
Fleet owners with pre-emission trucks only laughing when hearing about truck payments and how a truck that costs 200k 3 years later only costs the down payment 30k😂😂😂 meanwhile the pre-emission truck holding the same price without waste 200k
So glad I’m out of that Industry.
I better look for a deferent job before it’s too late
Haha, always keep one within your grasp... you never know when you might need to send that new application
It's a good day to be a company driver. 🎉 😂
I've never in over 30 years seen a day id want to be a company driver
Company drivers are how rate cutting companies undercut every other company. They first buy cheap trucks and then put new/cheap drivers in them to acquire work by cutting the rates.
Dont worry, You own mostly Cascadias, they explode after 800 k so You will have to get new ones soon
Absolutely not true.
I have 50 cascadias. Bought them with 700k now are between 900k and 950k. Not a major repair yet. About to replace them with 'new ones', again on 700k. Have a very knowledgeable mechanic though
Stupid question... Where's a good place to look for a good used truck?
I would also like to know.
Sorry to use ur question for a question I have Rorin but I DON'T HAVE a comment window to post a question here. All I can do is post comments on Comments already post.
Does anyone know why? Thx
@@MS-oz2wu I had that problem a couple of weeks ago but it just fixed itself. Idk why tho.
Market place
That is going to be me...KW 600 1999....with 3406 e...😊😊😊😊😊
No no no OMG drama drama 🎭👀😳🤔😉
Doesn’t effect me.
Hey man, hope you are doing well r u looking for an experience dispatcher for your company ?
When you talk about cost why dont you give cost per million miles. You preach freightliner so give cost and are all parts in stock
Trucks went double. You think workers get pay double to make them i don't think so
I was asking for a new truck last year they told me we only deal with big companies .One owner operator don't count now i say f you i wont by one now let them struggle for a while they will see.we always get screwed by dealer
You make an EXCELLENT point. One would think that with the products and services being sold increasing exponentially in value, the people who play key roles would proportionally earn more as well, but doesn't it seem like they're being paid the same or less while their work is being sold for more and more?
Greedy people are about to get Rekt.
they will probably sent them to Mexico and all central and south america
Hey man why don't u announce that we need to shut off engines for one week every one goes for a vacation and when we come back rates are better right
This is a great time to buy a used truck.
what you will have is a shit ton of immigrants buying trucks pushing everyone else out of the industry then shutting it down for better and better rates your gone their in. any questions call my secretary.
And what the dumb driver doesn't understand is, if you think that they were running you hard 1-2 years ago; imagine when that trucking outfit smiles and feigns nice with you during courtship, orientation and your first 2-3 weeks. With today's shitty trucking industry, that company is going to run you, and run you, and I'm sorrying you and pushing you right out the door.
Next-
Yells the CEO and Operations Manager as they fight to see which one gets to wear Satan's horns and forked tail during the next weeks orientation. After 3-6 months, that $165,000.00 truck will have gone thru 4 or 5
very pissed off drivers who were grinding gears, abusing the transmission, pissed and gushed all over both sides of the mattress, thrown Pepsi mixed with coffee up on the roof lining and Lord only knows what else. Wash, rinse and repeat.
Trucking is in disrepair
Tough business nowdays
Them new t680 with low miles are going for below 100k is crazyyy!!
Yeah but last year was a horrible batch with major fuel injection issues
That's also due in part of the fact they have a boat load of problems with them. As a company driver, i drive a 22 T680. I got it with 15 miles on it, and at just about 184,000 miles it's had about a month total of dealership downtime, for electrical issues. Last week, I lost brake lights at night even tho independently all the lights worked. For the last 4 months, i've had something causing it not to start, if it sits for more than a day and a half with the Fridge and Camara running and limited inverter/cigarette lighter use. Even if I let the truck idle for 3-4 hours. It's beyond frustrating.
@@caseybunch6843 22 and 23 were junk trucks that they pushed out after the covid rush and did little to no quality control. In 2021 I was gonna buy one for 180k. The the dealership reneged and said 237k. I just couldn't get funding from the bank to pay for it.
I'm so glad that I didn't.
@@Peterblack12That makes sense! My company only bought 15, the "Million Mile" drivers were the guinea Pigs to see if they'd be a good fit for the fleet.. they said once these are ready to be traded, they're gone. Then the entire fleet will be Freightliner.
@@Peterblack12Agreed. Company I work for in Canada as a bunch of them bought new ordered during pandemic and the quality issues are bad. Digital displays that don't work and need constant trips to the dealership, loose bolts, quirky electronic modules causing random failures...
I guess I will keep on driving my 99 FLD 12.7 Detroit.🫢
Instead of this nonsense news that helps no one, why not push what to do to fix our problems? Push how to unite and stop this madness push to teach how to fix this problems us owner operators are facing
How to unite? We've always advocated the how. We just all need to agree on a select action. Whether that is collectively not accepting loads until the rates increase or all going on strike. However, since that unionization isn't agreed upon by everyone, there is only so much that we can do. Instead we continue to inform and update others on the market and provide information on all aspects of North American trucking, as we have always done. The solution to the problem is evident, but we can't force everyone to adhere to it