COLUMBUS, BLOOMINGTON, Ind. — FTR and ACT have both reported that preliminary North American Class 8 net orders in September reached over 30,000 units.
According to an FTR media release, the figure falls in line with seasonal expectations as the average September order level over the last seven years is 32,170 units. Given the current stagnation in the truck freight market from a volume and rate perspective, this is a very balanced order number and suggests an initial, healthy level of demand for new trucks in 2025 as September is typically the opening of order boards for the following year.
“This month, OEMs saw positive market demand, though the magnitude of the m/m increases varied,” said Dan Moyer, FTR senior analyst, commercial vehicles. “The vocational market considerably outperformed the conventional sector, driving most of the m/m improvement. Despite stagnant freight markets, fleets continue to invest in new equipment, albeit at replacement demand levels in 2024 to date. We expect a modest increase in September backlogs once the final Class 8 market data is released later this month. With inventory remaining near record levels, we also expect further downward pressure on build rates through the end of 2024.”
In an ACT press release, Kenny Vieth, ACT president and senior analyst added that Class 8 orders jumped well above trend and seasonally elevated expectations in September.
“Historically, September is the first month of stronger orders, as the OEMs open their order books to next year’s orders,” Vieth said. “As such, for the first time since March, seasonality lowers the monthly order volume. On a seasonally adjusted basis, Class 8 orders jumped 92% from August, to 35,200 units, a 423k SAAR.”
Vieth added that medium-duty orders continued at range-bound levels on a very slowly declining trend.
“Preliminary NA Classes 5-7 orders were mixed, rising nominally m/m, but falling seasonally,” Vieth said. “In September, MD net orders fell 4,700 units, or 20% y/y, to 19,100 units.”
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.
