COLUMBUS, IN – Demand for commercial vehicles was robust in October as 67,900 total NA Classes 5-8 orders were booked, up 50% from a year ago. Over the past twelve months, NA Classes 5-8 net orders have totaled 563,600 units, representing the strongest 12-month period of NA Classes 5-8 order placement since the twelve months ending January 2007.
“The 46,200 NA Class 8 net orders in October (43.2k SA) represent the convergence of a number of trends that continue to drive healthy order activity,” said Kenny Vieth, ACT’s President and Senior Analyst. “Those trends include pent-up demand amongst small and medium fleets, superior new truck fuel economy, improved economic activity in key freight sectors, and most importantly, rising freight rates and fleet profitability,” he said.
Vieth said that October’s preliminary 21,700 NA Classes 5-7 net orders was the best MD vehicle order volume since April, up 14% compared to last October and up 11% sequentially. “October marked the second consecutive positive y/y order comparison after soft orders from May to August. On a seasonally adjusted basis, October’s orders are slightly lower than actual at 19,400 units, but like actual are the best month since April,” Vieth added. Through YTD, Classes 5-7 net orders have been booked at a 218,300 unit annual rate (218.4k SAAR).
ACT is the recognized leading publisher of new and used commercial vehicle (CV) industry data, market analysis and forecasting services for the North American market, as well as the China CV market. ACT’s CV services are used by all major North American truck and trailer manufacturers and their suppliers, as well as the banking and investment community. For more information on ACT, please go to our web site at https://www.actresearch.net.