The Class 8 auction market heats up more each month, and retail selling prices continue to crush records as the industry stands at the confluence of a strong freight market, an inadequate supply of low- to average-mileage used trucks and a shortage of drivers. J.D. Power Senior Analyst and Product Manager of Commercial Vehicles Chris Visser, a guest during FTR’s ongoing virtual State of Equipment series, says “superheated rates” are keeping truck buyers energized. FTR forecasts rate increases to gradually relax and reach year-over-year parity starting in early 2022, while volume continues to grow into 2023. “In this market, we’re never going to have enough drivers to move the amount of freight that we have,” he says. “We’re really in a severe shortage of new trucks.” The four-year truck trade cycle has been alive and well, Visser said, adding that 489,100 orders for trucks have been placed in the last 12 months with a bump in August due to the opening of model year 2023 build slots. However, OEMs have tamped down some of the enthusiasm as uncertainty surrounds the