Class 8 Truck Orders Fall 36%, Plus 2 More Trucking Stories

Equipment, regulation and earnings each added a data point this week, and they share one thread: costs are rising faster than many carriers can price them in. Today we look at a sharp drop in new heavy-truck orders, a court challenge to this year’s carrier registration fee rule, and a small carrier that lost money in the third quarter even as its revenue grew.

1. Class 8 Truck Orders Fall 36% in October

FTR’s preliminary count, reported by Commercial Carrier Journal on November 5 and FreightWaves on November 4, put North American Class 8 net orders at 15,600 trucks in October. That is down 24% from September and 36% from a year earlier, and roughly half of what FTR’s 10-year October average of 31,089 would suggest. ACT Research’s preliminary figure was lower still at 13,500, down 45%. Even so, orders for the year to date stand at 278,201, up 74% from the same period of 2025, which reflects the heavy buying earlier in the year.

Both research firms tie the slowdown to uncertainty over EPA’s 2027 engine emissions standards. According to CCJ, the final rule had not been issued at the time of reporting, and under the proposed framework, penalty payments for engines that miss the standard could add an estimated $6,000 to $7,000 per engine, against an estimated $8,000 to $12,000 premium for fully compliant engines. Those are estimates tied to a proposal, not final costs. FTR analyst Dan Moyer said some purchases “may be deferred rather than canceled,” and that fleets may shift spending toward trailers; our earlier report on trailer orders covers that side.

Why it matters: If you plan to buy a tractor, pricing and build-slot terms may stay unsettled until EPA acts, so ask dealers what is guaranteed in writing. A deferred wave of orders could also mean tighter equipment supply later, which is a risk for fleets that wait.

2. Court Challenge Targets the 2027 UCR Fee Rule

The rule itself is final. FMCSA published its Unified Carrier Registration fee rule in the Federal Register on September 1, 2026, adopting an average 20% increase for registration year 2027, effective October 1. Examples from the rule’s table: $55 for a carrier with 0 to 2 vehicles, $333 for 6 to 20 vehicles and $1,163 for 21 to 100 vehicles. On October 20 the Small Business in Transportation Coalition filed a petition in the U.S. Court of Appeals for the D.C. Circuit, arguing the registration system and its board were never lawfully established. These are the group’s claims; the UCR Plan says the system was lawfully established, and no court has ruled.

FreightWaves reported on November 3 that the coalition asked on October 26 for expedited review but not an emergency stay, and that both sides are telling carriers to keep their 2027 registrations current and pay when due. The UCR Plan’s director warned that a ruling against the system could affect fee collection and the money passed to states for safety enforcement. The coalition has also made privacy allegations, which the UCR Plan disputes.

Why it matters: Nothing changes for now: the rule is final and in effect, and no court has ruled. Keep your 2027 filing on your calendar and treat any court outcome as a future possibility, not a reason to wait.

3. PAMT Posts an $8.1 Million Third-Quarter Loss

In its November 2 release, PAMT Corp. reported a net loss of $8.1 million, or $0.38 a share, for the quarter ended September 30. Operating revenue rose 8.2% to $162.5 million from $150.3 million. The truckload operating ratio, net of fuel surcharge, was 109.1%, worse than 106.7% a year earlier, and anything above 100% means costs exceeded revenue. The company reported $102.0 million of available liquidity and $323.1 million of debt, down $10.7 million since the end of 2025. President Lance Stewart said “cumulative cost increases continue to outpace the pricing improvements achieved to date.”

FreightWaves, which covered the report, said the company pointed to higher driver costs and diesel, and that revenue grew only about 2% once fuel surcharges are excluded. Compare it with the thin profit at Marten Transport we covered earlier.

Why it matters: Higher rates have not reached every carrier’s bottom line. For owner-operators and small fleets, it is a reminder to price from your own cost per mile, not from headline market rates.

The Bottom Line

Truck orders fell sharply while EPA’s 2027 rule remains unfinished, the UCR fee rule is final but now faces a court challenge with no decision, and PAMT shows that revenue growth can still end in a loss. Each is a question of cost and timing.

Neal’s Take

Taken together, these items describe an industry waiting on decisions: from EPA on engines, from a court on registration, and from the market on whether rates can cover higher costs. I would watch whether EPA finalizes its 2027 rule and whether orders recover in November, since FTR itself says some buying may simply have been delayed. I would also watch the D.C. Circuit’s response to the request for expedited review, while paying fees on time as both sides advise. A single weak order month or a single loss-making quarter does not set a trend, so I would wait for more data.

— Neal Cvetkovski, Founder of LOAD TIDE. Personal opinion, not legal or financial advice.

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Sources: Federal Register, FMCSA final rule on UCR fees (Sept. 1, 2026); PAMT Corp. third-quarter 2026 results, SEC filing (Nov. 2, 2026); Commercial Carrier Journal on Class 8 orders (Nov. 5, 2026); FreightWaves on Class 8 orders (Nov. 4, 2026); FreightWaves on the UCR lawsuit (Nov. 3, 2026); CCJ on the UCR challenge (Oct. 26, 2026, updated Oct. 29); FreightWaves on PAMT (Nov. 2, 2026).