Strong Class 8 Truck Orders Continue in February

ACT Research reports Class 8 demand continuing at high levels again this month suggests that US buyers continue as strong market participants

January preliminary North America Class 8 net orders were 27,700 units, up 600 units from January and 16% from a year ago. Complete industry data for February, including final order numbers, will be published by ACT Research in mid-March.

“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower capex in 2024, would imply pressure in US tractor, the NA Class 8 market’s largest segment,” shared Kenny Vieth, ACT’s President and Senior Analyst. “While we do not yet have the underlying detail for February order volumes, Class 8 demand continuing at high levels again this month suggests that US buyers continue as strong market participants.”

With the fourth largest seasonal factor of the year at 8%, seasonal adjustment reduces February’s Class 8 intake to 25,600 units (307k SAAR), up 5% from January.

He added, “NA Classes 5-7 net orders were 18,800 units in February, up 7% y/y. February’s medium duty net order seasonal factor, at 5%, is the fifth strongest of the year, thereby lowering the seasonally adjusted order tally to 17,900 units, down 13% m/m, and the lowest seasonally adjusted tally in 13 months.”

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