Commercial Vehicle Demand Remains Strong in October
Medium and heavy duty classes 5-8 orders were strong in October, with Class 8 nearly breaking the all-time record for the industry.
According to ACT Research, total net orders for Class 8 were 45,978 units, up 76% year over year and the second best in the history of the industry, bettered only by March 2006 when fleets demanded 52,146 net orders.
Classes 5-7 net orders were at 22,453, their strongest level since early February 2008.
“Conditions relating to freight volumes and rates and truckers’ profits and plans to purchase new equipment remained positive in the third quarter,” said Steve Tam, ACT’s Vice President, Commercial Vehicle Sector.
Speaking to the strength in Class 8 order activity, Tam noted, “Through year-to-date October, net orders have been booked at a seasonally adjusted annual rate of 365,800 units.”
Tam said that the performance of the Classes 5-7 segment, while not as spectacular as Class 8, was in keeping with the characteristically measured growth the medium duty market typically exhibits. “October truck orders drove the market (+16% m/m), while buses (-43%) and RVs (-21%) took a breather,” he said. Classes 5 orders were up 15% year over year and Classes 6-7 orders rose 19%.
Source: ACT Research
Category: Featured, General Update, Vehicles
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