According to preliminary data from ACT Research, North American Class 8 truck net orders reached 27,700 units in February, up 600 units from January and 16% from February of 2023. Complete industry data for February, including final order numbers, will be published by ACT Research later this month.
“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower capex in 2024, would imply pressure in U.S. tractor, the NA Class 8 market’s largest segment,” Kenny Vieth, president and senior analyst of ACT Research, said. “While we do not yet have the underlying detail for February order volumes, Class 8 demand continuing at high levels again this month suggests that U.S. buyers continue as strong market participants.”
With the fourth largest seasonal factor of the year at 8%, seasonal adjustment reduces February’s Class 8 intake to 25,600 units (307,000 SAAR), up 5% from January.
“NA Classes 5-7 net orders were 18,800 units in February, up 7% [year over year], Vieth said. “February’s medium-duty net order seasonal factor, at 5%, is the fifth strongest of the year, thereby lowering the seasonally adjusted order tally to 17,900 units, down 13% [month over month], and the lowest seasonally adjusted tally in 13 months.”
