Truck orders remain strong, up 29 percent year over year

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Orders for Class 8 trucks rose to their second highest level in the last 17 months in May and were up 29 percent over the same month in 2012, according to data released last week by ACT Research.

New Class 8 orders in the month totaled 24,218, marking the eighth straight month that orders were above 20,000 units. Class 5-7 orders totaled 17,088, the best in the last eight months, ACT says.

Steve Tam, vice president of ACT’s Commercial Vehicle Sector, said cancellations in the month also “fell meaningfully” and were close to an all-time low.

“New orders being placed for Class 8 vehicles continue to come from soon-to-be buyers who are genuine in their need for new trucks,” Tam said. “The lack of speculative orders bodes well for the industry as any increase in need for trucks will translate immediately into order activity,” he said.