Despite the soft freight market, new truck orders saw gains in February, notably beating last year’s numbers.
ACT Research reported that Class 8 preliminary net orders for February came in at 27,700 units, up 600 units from January and 16% from a year ago.
NA Class 8 Net OrdersACT Research
Weak freight, carrier profitability fundamentals and large carriers lowering capital expenditures this year would imply pressure in U.S. tractor segment – North America's largest Class 8 market – said Kenny Vieth, ACT 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 [in February] suggests that U.S. buyers continue as strong market participants," he said.
Looking at North American vehicle demand this year, Vieth noted there are varying factors that could have led to order activity, starting with “pandemic ripples.” With ongoing healthy economic activity, he said pent-up demand continues to support elevated levels of medium-duty and heavy-duty vocational truck demand. That pent-up demand is also causing a shift in global supply chains, and a strong peso has also pushed vehicle demand in Mexico.
