Preliminary Class 8 Order Intake Down M/M and Y/Y

ACT reports that weak freight market and rate conditions, as well as a still-large backlog, continue to bedevil new Class 8 orders

Preliminary NA Class 8 net orders in February were 14,100 units, down 18% from January and 16% lower than an easy year-ago comparison. February’s Classes 5-7 net orders rose to an 11-month high 22,200 units, up 12% from January, but down 12% from a very strong year-ago comparison. Complete industry data for February, including final order numbers, will be published by ACT Research in mid-March.

“Weak freight market and rate conditions, as well as a still-large backlog, continue to bedevil new Class 8 orders,” said Kenny Vieth, ACT’s President and Senior Analyst. He continued, “February is not a particularly strong Class 8 order month and this February’s results, seasonally adjusted, were the weakest monthly order rate since last August.” Vieth also mentioned, “With COVID-19 becoming a hot topic at the end of February, one wonders if that impacted order activity.”

Regarding medium duty activity in February, he noted, “COVID-19 did not seem to bother medium-duty vehicle buyers as much, as that segment reported a third consecutive month of solid orders. Starting in February, the calendar rolls into the peak order season for medium duty vehicles.”

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