According to FTR’s preliminary Class 8 net order numbers for November, orders came in at 19,300 units, up 41% month-over-month. This was right in line with the FTR forecast, and represents the market making a return to tracking normal cycles. Class 8 backlogs are expected to increase for the first time in ten months. Including November, Class 8 order activity for the past twelve months annualizes to 191,000 units.
“Class 8 orders came in right as expected in November,” said Don Ake, vice president of commercial vehicles at FTR. “It is good news that the market has stabilized and is following seasonal trends. Backlogs should increase in November and December as production dips, however this order level should allow production to bounce back some in Q1.
“The downturn in the Class 8 market was in response to weak manufacturing and lackluster freight growth in 2016,” he added. “It appears business inventories have finally dropped and manufacturing is regaining strength. This trend is important for the Class 8 market to regain footing early in 2017.”
