According to the latest numbers from both ACT Research and FTR, Class 8 truck orders hit an eight-month high in August.

ACT reports that preliminary North American Class 8 net orders in August were 19,500 units, down 4% from July, but up 75% from last August. The N.A. Classes 5-7 market saw orders at a healthy 19,400 units, up 16% month-over-month, but 2% below their year-ago August volume.

“The month’s orders marked a third consecutive positive reading, following a period where 18 of 19 consecutive months had negative year-over-year comparisons,” said Kenny Vieth, ACT’s president and senior analyst.

According to FTR, preliminary North American Class 8 net orders continued to climb in August, reaching 20,500 units for the month.

Large fleets continue to buy new trucks according to their replacement cycles, FTR says, with a few orders going towards expansion purposes. Orders are expected to stay in the 20,000 range for the next few months with buyer confidence increasing as the economy recovers and freight volumes rise. There is less uncertainty regarding the pandemic as businesses and consumers adapt to the current environment, FTR adds.

“This is an odd situation in that it is a highly uncertain, yet very stable, environment,” added Don Ake, FTR vice president of commercial vehicles. “You have a pandemic, a presidential campaign and social unrest all occurring at the same time. However, the economy is briskly recovering and generating ample freight. Fleets are ordering only what they need, and thus, orders are aligning very close to production rates. We can expect orders to track in the current range until those risk factors are resolved. Right now, the market is in a holding pattern and may stay there through the rest of the year.”