According to preliminary data from ACT Research, North American Class 8 truck net orders reached 31,900 units in October, remaining at above-trend levels nominally and seasonally. ACT Research will publish complete industry data for October, including final order numbers, in mid-November.
“A strong seasonal factor presses down on ‘real’ orders this month, with seasonal adjustment dropping October’s intake to 25,800 units, still good for the third-best order month in the past 12 months,” Kenny Vieth, president and senior analyst of ACT Research, said. “The Class 8 backlog should rise by around 3,400 units when full October data are released in mid-November. If those numbers hold, Class 8 backlogs will have ended October at around 165K units.
“Even though backlogs, in seasonal fashion, are rising, they continue to point to a different market vibe heading into 2024. As we head into 2024, the absence of the large backlog cushion the industry has enjoyed the past two years underscores the importance of seasonal order activity in the coming months.”
