FTR: Class 8 orders fell in February, up year-over-year

FTR: Class 8 orders fell in February, up year-over-year

Despite the 9% drop from January, FTR says net orders for February are up 11% year-to-year, according to preliminary data.

FTR reports that Class 8 preliminary net orders for February came in at 25,700 units, down 9% from January but up 11% year-over-year.  This order number is consistent with recent demand trends and is above seasonal expectations, according to FTR, which adds that orders for the past 12 months have totaled 263,700 units.

FTR says concerns of a rapid easing of demand in 2024 are not coming to fruition nor is the market doing significantly better than replacement level orders. After peaking last November at 36,000 units, the company says orders stabilized at a level roughly 10,000 units lower over the last three months.

“Build slots continue to be filled at a reasonable rate. With February orders coming in at a rate that was comparable to December 2023, the market is still performing at a solid level,” says Eric Starks, chairman of the board at FTR. “It was a mixed market for OEMs this month with some seeing increases and others seeing decreases in orders. Despite the weakness in the freight markets that has persisted for more than a year, fleets continue to be willing to order new equipment. Order levels were above the historical average and above seasonal trends, but our expectations for replacement output by the end of this year remain unchanged.”

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