Preliminary data from both FTR and ACT Research Co. shows a record-setting month for truck orders in January, with numbers not seen in over a decade.
According to ACT, the industry booked 80,400 units in January for Classes 5-8, which has only been surpassed by March 2006 by ACT’s estimation—a month which, ACT notes, was “a frenzied period ahead of the EPA ’07 pre-buy.”
ACT has Class 8 orders at 48,700 units, which like the overall market, is the best showing since March 2006 and represents a seasonally adjusted month-over-month increase of 41% and a 107% year-over-year increase.
FTR has the preliminary number of Class 8 orders at 47,200, representing a 28% month-over-month increase, a year-over-year improvement of 116%, and the best showing since early 2006.
“These levels were well above our already strong expectations and continue to indicate that the equipment markets are still reacting to the tight capacity in the truck marketplace,” noted Jonathan Starks, FTR’s chief operating officer. “January is normally a seasonally weaker month, except when the market is on a clear upswing. Near-record levels can’t last for long, but orders could stay quite elevated throughout the spring.”​
As for the medium-duty market, ACT has Class 5-7 orders at 31,700 units. “This is the best month since July 2006 and the third-best month on record,” said Kenny Vieth, ACT’s president and senior analyst. “On a seasonally adjusted basis, medium-duty orders came in at 32,300 units, up 56% m/m and 34% y/y.”