Truck orders maintained momentum in January, gaining a slight bump from December, according to ACT Research and FTR.
ACT Research reported that North American Class 8 truck orders for January came in at 27,000 units, up 600 units from December. ACT preliminary data showed orders also increased 45% from a year ago.
FTR’s data indicated that Class 8 preliminary net orders came in at 26,400 units, up 2% from December and up 35% year-over-year. It estimated that Class 8 orders over the past three months are running at an annualized rate of 354,000 units. The annualized rate over the past six months has been 327,000 units. Orders for the previous 12 months equaled 259,000 units, FTR noted.
NA Class 8 Net Orders
“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower capex in 2024, would imply some pressure in the North America Class 8 market’s largest segment – U.S. tractor," said ACT President and Senior Analyst Kenny Vieth.
Though ACT still doesn’t have the underlying details for January orders, Vieth said demand for Class 8 continuing at high levels at the start of the year indicates that over-the-road U.S. truckers are still buying.
