ACT Research: Class 8 Truck Orders Jump 45% Y/Y in January

According to preliminary data from ACT Research, North American Class 8 truck net orders reached 27,000 units in January, up 600 units from December and up 45% compared with January 2023. Complete industry data for January, including final order numbers, will be published by ACT Research in mid-February.

“Weak freight and carrier profitability fundamentals and large carriers guiding to lower capex in 2024 would imply some pressure in the NA Class 8 market’s largest segment, U.S. tractor,” Kenny Vieth, president and senior analyst at ACT Research, said. “While we do not yet have the underlying detail for January orders, Class 8 demand continuing at high levels at the start of 2024 suggests that over-the-road U.S. truckers are still buying.”

With the third largest seasonal factor of the year at 11%, seasonal adjustment pushes January’s Class 8 intake to 24,300 units (292,000 SAAR), up 17% from December.

“NA Classes 5-7 net orders were 20,300 units in December, up 16% [year over year],” Vieth said. “Unlike Class 8, MD seasonality is modestly positive in January, boosting the seasonally adjusted order tally to 20,800 units, down 21% [month over month] from a tough best-month-of-2023 December comp.”

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