ACT: Preliminary NA Classes 5-8 Vehicle Orders Positive for Fifth Consecutive Month
NOV 4, 2020 - 7:15 am
Preliminary NA Class 8 net orders in October were 38,900 units, up 27% from September and 78% compared with October 2019, according to ACT Research. In addition, preliminary NA Classes 5-7 demand jumped to a 10-quarter high (March 2018) in October to 29,300 units. That order volume represents an improvement of 6% from September and an 84% uptick compared with October 2019. Complete industry data for October, including final order numbers, will be published by ACT Research in mid-November.
“Keeping in mind the freight backdrop of consumer spending on goods expanding and those for services contracting, preliminary October NA Classes 5-8 vehicles order data rose to 68,200 units. That volume represented a 17% gain from September and an 80% improvement compared to year-ago October,” Kenny Vieth, president and senior analyst at ACT Research, said. “October was the largest Classes 5-8 order tally in 26 months, and this month’s orders marked a fifth consecutive positive year-over-year reading after 18 consecutive months of negative comparisons.”
Regarding the medium-duty market, Vieth said, “There is a symbiotic relationship between heavy-duty freight rates and medium-duty demand, and clearly the shift in consumer spending from experiences to goods has been beneficial for the providers of local trucking services, as e-commerce has grown by leaps and bounds during the pandemic.”
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