COLUMBUS, Ind. — Robust net orders for Class 8 and medium-duty trucks in July are setting 2014 up to the best year of the cycle for truck order activity, ACT Research reported in its State of the Industry report.
Class 8 orders totaled 30,103 units and Clases 5-7 net orders gained in July, reaching 15,834 units.
“While one strong month may be statistical noise or an outlier, the July orders fit into a robust pattern that has held up since the start of the year,” said Jim Meil, ACT principal, industry analysis. “With year-to-date orders up 33% from the comparable 2013 span, 2014 is almost certain to be the best year of this cycle.”
Meil added that Class 8 backlogs were the highest since January 2012, but “we believe we are not yet at the point where an overheated market triggers duplicate ordering and raises anxieties about backlog integrity.”
Classes 5-7 orders are about 10.5% higher than the prior year.
“While the numbers may not be as stellar as what we see in Class 8, the year is shaping up to be the best thus far of the post-2009 expansion for medium-duty.”