According to ACT Research, there were 309,615 Class 8 units sold in the United States in 2022, including what ACT described as “healthy” and record-setting net orders of 34,415 units in December and 159,000 orders from September to the end of the year. Meanwhile, orders of Classes 5-7 declined 3% year over year and 21% month over month to 17,464 in December, with seasonal adjustment trimming orders to 16,100.

“For now, business activity in the truck industry rolls on, also seemingly unphased by higher interest rates, as pent-up demand remains for now,” Eric Crawford, vice president and senior analyst at ACT Research, said. “We expect this dynamic to shift in H2/23 as the Fed continues its aggressive push to subdue inflation. Although there have been recent signs of inflation slowing, we do not expect the Fed to begin cutting rates in 2023.”

Regarding retail sales, Crawford said, “Class 8 retail sales in December rose 19% [year-over-year] to an all-time record 34,415 units. The strong finish to the year led to a total of 309,615 units sold in 2022. Classes 5-7 retail sales (SA) rose 3.6% [year over year] to 19,000 units. Full year retail sales were 229,821.”