Two sources have reported increased Class 8 truck orders in September.
Preliminary data from FTR show North American Class 8 net orders for September at 22,100 units, continuing month-over-month increases of 7 percent versus August and 62 percent above a year ago.
ACT Research show North American Class 8 net orders improved on both and actual and seasonally-adjusted basis in August, the fourth consecutive month of order improvement after dropping in May, and represented a meaningful jump when seasonally adjusted.
FTR said order volume for September met expectations as the market builds momentum heading into the fall order season. Orders from Canada were particularly robust as fleets are benefitting from a strong economy there, FTR said, adding that North American Class 8 orders for the past twelve months have totaled 239,000 units.
“The recovery in the Class 8 market is building, and we saw that with the orders through the summer,” said Don Ake, vice president of commercial vehicles at FTR. “Order totals never got that low and followed cyclical trends. This is a healthy, growing truck market, which is in excellent position for greater expansion in 2018. Class 8 order rates are expected to jump in the fourth quarter. Stronger freight growth generated by a more vibrant U.S. economy will spur demand for additional trucks next year. Factor in the loss of productivity from the electronic logging devices, and fleets will have to expand capacity to haul the available freight.”
“For the month, Class 8 orders rose 63 percent from easy year-ago comps to 22,600 units,” said Kenny Vieth, president and senior analyst at ACT Research. “With a generous factor bestowed on what is typically the second weakest order month of the year, seasonal adjustment boosts September’s order performance to its highest level in over two years at 26,200 units.”
ACT said combined North American medium-duty and heavy-duty Classes 5-8 net orders improved to a three-month high in September, and hit a 27-month high when seasonally adjusted.