ACT: November North American Class 8 Orders Jump 197% Y/Y
DEC 3, 2020 - 6:50 am
Preliminary North American Class 8 net orders in November were 51,900 units, up 33% from October and 197% compared with November 2019, according to ACT Research. Demand for Classes 5-7 in North America continued in line with recent activity, reaching 27,200 units during the month. That order volume represented a 9% decrease from October’s 30-month high but was still up 78% compared with November 2019. Complete industry data for November, including final order numbers, will be published by ACT Research in mid-December.
“The pandemic-impacted economy continues to play into the hands of trucking,” Kenny Vieth, president and senior analyst for ACT Research, said. “With freight rates surging to record levels the past three months and carrier profits certain to follow, orders accelerated in November. Preliminarily, North American Class 8 net orders rose to the third highest level in history, proving once again our favorite commercial vehicle demand axiom, when carriers make money, they buy, or at least order, trucks. There is a symbiotic relationship between heavy duty freight rates and medium duty demand. Clearly the shift in consumer spending from experiences to goods has been good for the providers of local trucking services, as e-commerce has grown by leaps and bounds during the pandemic.”
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