Class 8 orders strong in February

Class 8 orders strong in February

Even when seasonally adjusted, ACT says preliminary order numbers for February are up 5% over January.

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.”

ACT-Research-Class-5-7-Feb-orders

“NA Classes 5-7 net orders were 18,800 units in February, up 7% year-over-year,” Vieth added. “February’s medium duty net order seasonal factor, at 5%, is the fifth strongest of the year, thereby lowering the seasonally adjusted order tally to 17,900 units, down 13% m/m, and the lowest seasonally adjusted tally in 13 months.”

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