Class 8 truck orders closed out 2017 on a tear according to ACT Research, reaching 37,500 units and topping 30,000 orders the third consecutive month.
December order activity jumped 15 percent over November totals and were 77 percent higher versus a year ago, hitting their highest level since the 40,000-plus orders seen at the close of 2014.
“ELD implementation is now in full swing and will continue through the initial enforcement phase of April 1 of this year,” adds Jonathan Starks, FTR chief operating officer. “This is contributing to the tight capacity environment and is combining with strong freight activity to move freight rates higher. Our forecast continues to call for an increase in production for 2018, but market expectations are varied for 2019.”
The North American equipment market continues to show strength entering 2018, with Class 8 orders for the past 12 months totaling 290,000 units according to FTR.
“The last month of 2017 was the best monthly order intake since December 2014,” adds Kenny Vieth, ACT Research president and senior analyst.
