COLUMBUS, Ind. — Preliminary net orders for Classes 5-8 trucks spiked in October, marking the best showing for Class 8 net orders this year.
Class 8 orders should come in at 23,200 units, according to ACT Research, while 18,500 medium-duty Classes 5-7 vehicles were ordered. The Classes 5-7 categories, including trucks, buses and RVs, reached a 56-month high (best since April 2011 when seasonally-adjusted).
“The improvement in orders comes on the heels of the recovery in consumer spending, strong housing data, and rising consumer confidence,” said Kenny Vieth, president and senior analyst, ACT Research. “Considering that the election and fiscal cliff were squarely in the windshield through October, order strength was perhaps even more impressive than the numbers suggest. The improvement in orders in October is recognition that with even a small amount of economic comfort, there is positive underlying demand for commercial vehicles in the North American market.”