According to preliminary data from ACT Research, North American Class 8 net orders in October were 42,500 units, while Classes 5-7 net orders were 23,400 units. The complete industry data for October, including final order numbers, will be published mid-November.

“The strength in orders reflects 1) OEMs having opened their orderboards for 2023 more broadly, and 2) ongoing pent-up demand, with tailwinds from strong carrier profitability and elevated fleet age proving resilient,” Eric Crawford, vice president and senior analyst of ACT, said. “We continue to expect a freight recession, and an eventual economic recession (mild to medium in magnitude), but OEMs at this point have clear visibility to a strong 1H’23 (barring any unforeseen cataclysmic events). MD demand was solid, albeit against somewhat challenging comps. Over the past 12 months, the MD market has seen 234,200 orders booked.”