2018's first quarter was the second-best ever for truck orders

This year’s first quarter was the second-best ever for truck orders

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This year’s first quarter of truck orders was the second-best ever recorded, ACT Research found. Q1 of 2018 came in second only to Q1 of 2006, which featured a frenzied period of ordering ahead of EPA ’07 regulations. Q1 of 2018 averaged 45,400 units sold per month.

“Like 2006, 2018 has the same economic/freight component, rising carrier profitability component, and also a significant regulatory component that impacted the broader market (if in starkly different ways),” said Kenny Vieth, ACT’s president and senior analyst. “An evolving differentiator is the driver shortage, which is moving from a conditional to a structural component of the market; and we would be remiss if we did not acknowledge the powerful force that was the tax cut.”

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According to the latest numbers from ACT Research, preliminary North America Class 8 net orders were 27,700 units, up 600 units from January and 16% from a year ago. With the fourth-largest seasonal factor of the year at 8%, seasonal adjustment reduces February’s Class 8 intake to 25,600 units, up 5% from January.

“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower capex in 2024, would imply pressure in U.S. tractor, the North American Class 8 market’s largest segment,” said Kenny Vieth, ACT’s president and senior analyst. “While we do not yet have the underlying detail for February order volumes, Class 8 demand continuing at high levels again this month suggests that U.S. buyers continue as strong market participants.”

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