Truck orders surged in February

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Echoing a report from FTR Associates from last week, preliminary numbers from ACT Research show that Class 8 net orders for February jumped to their highest point since January 2012, surging month-over-month and year-over-year. ACT says about 23,300 Class 8 units were ordered during the month.

Orders for Class 5-7 trucks also spiked, as 16,400 medium-duty vehicles and trucks were ordered.

ACT says because production did not match demand, backlogs will rise again.

“With Class 8 build in February below 20,000 units, backlogs should rise once again,” says Kenny Vieth, president and senior analyst for ACT. “On a seasonally adjusted basis, February’s Class 8 net orders were 22,900 units, in a dead heat for the best reading in the past year. Medium-duty orders easily outpaced both January 2013 and February 2012. February’s volume was up 13 percent versus last year. Similar to the Class 8 market, Classes 5-7 net orders above February’s build expectations suggests backlogs are likely to have moved higher.”