Preliminary North American Class 8 orders see gains

Preliminary November North American Class 8 truck net orders saw sequential and annual declines, according to recent data respectively issued by freight transportation consultancy FTR and ACT Research, a provider of data and analysis for trucks and other commercial vehicles.  

FTR reported that November preliminary orders, at 36,750 units, were up 32% compared to October and up 2% annually. The firm said that this tally was within expectations, in terms of seasonal tendencies, coupled with October’s significant annual decrease. And it added that total Class 8 orders over the last 12 months are at 255,500 units. FTR also observed that build slots continue to be filled at a healthy rate, with the slight annual increase in November orders signaling a market performing at a historical high level.

“We also saw a more cohesive market for OEMs versus October with the majority seeing increases in orders,” said Eric Starks, FTR chairman of the board, in a statement. “Despite prolonged weakness in the overall freight market, fleets continue to be willing to order new equipment. Order levels were above the historical average but continue to follow seasonal trends, stabilizing our expectations for replacement demand in 2024.”

ACT data: ACT reported that that preliminary North American Class 8 November orders, at 41,700 units, were up by 9,000 units compared to October and above the 32,700 units recorded in November 2022.  

“November Class 8 net orders were the highest monthly intake since October 2022,” said Kenny Vieth, ACT’s President and Senior Analyst, in a statement. “A modest seasonal factor presses down gently this month, with seasonal adjustment dropping November’s SA intake to 40,100 units, making November the best ‘real’ order month since September 2022. Since the filling of 2024’s orderboards began in earnest in September, Class 8 orders have been booked at a 413k SAAR. Even though backlogs, in seasonal fashion, are rising, they continue to point to a different market vibe heading into 2024: Still good, for sure, but solid, rather than stellar.”