COLUMBUS, BLOOMINGTON, Ind. – October preliminary North America Class 8 net orders were 30,600 units, down 5.2% y/y, according to ACT Research.
FTR reported that preliminary North American Class 8 net orders in October totaled 28,300 units, marking a 14% month-over-month (m/m) decline but a 2% year-over-year (y/y) increase. This figure FTR reported that preliminary North American Class 8 net orders in October totaled 28,300 units, marking a 14% month-over-month (m/m) decline but a 2% year-over-year (y/y) increase. This figure falls somewhat short of seasonal expectations as the average October order level over the last seven years is 33,940 units. Given the continued stagnation in the truck freight market, this is a healthy order number, but it suggests that some fleets are being cautious as they order new trucks for 2025. Orders in October typically increase slightly from the prior month. as the average October order level over the last seven years is 33,940 units. Given the continued stagnation in the truck freight market, this is a healthy order number, but it suggests that some fleets are being cautious as they order new trucks for 2025. Orders in October typically increase slightly from the prior month.
“After a strong start to the opening of 2025 order books in September, MD and HD orders took a step back in October,” said Kenny Vieth, ACT’s president and senior analyst. “On a seasonally adjusted basis, Class 8 orders fell 30% from September to 24,500 units, a 294k SAAR.”
Vieth also commented on medium duty.
“Over the past several years, MD Classes 5-7 orders have been remarkably consistent, if on a slowly deflating trajectory into still-elevated truck and bus backlogs,” Vieth said. “With the caveat that one month does not make a trend, October orders moved sharply from the prevailing trend. Preliminary NA Classes 5-7 orders fell 5,800 units, or 27% y/y to 15,900 units.”
FTR noted that year-to-date (YTD) performance remains at replacement demand levels with an average of 21,211 net orders per month. 2024 YTD net orders in October were up 11% y/y. North American Class 8 orders have now totaled 274,174 units for the last 12 months.
“This month, OEMs saw a drop m/m in total market demand, but there was inconsistency, as some experienced increases in orders and others saw declines,” Dan Moyer, FTR senior analyst, commercial vehicles. “The on-highway market showcased a notable jump in demand, softening the blow from the declines observed in the overall vocational sector. Despite a sluggish freight market, fleets have sustained their investments in new equipment, albeit primarily at replacement demand levels thus far in 2024. We anticipate a slight uptick in October backlogs once the final Class 8 market data is released later this month. With inventory levels remaining close to record highs, we also foresee continued downward pressure on production rates through the remainder of 2024.”
Dana Guthrie is an award-winning journalist who has been featured in multiple newspapers, books and magazines across the globe. She is currently based in the Atlanta, Georgia, area.
