BLOOMINGTON, Ind. – Preliminary North American Class 8 net orders reached 35,700 units in October, marking a 62% month-over-month increase, according to FTR.
That’s a 167% increase from October 2016.
“Class 8 orders surged in October. The market seems well situated for a strong production environment to persist into 2018,” said Jonathan Starks, chief operating officer of FTR. “FTR has been anticipating a strong 2017 fall order season since early this year. The market continues to follow our expectations and highlights that the market fundamentals remain solid as we approach 2018.”
FTR reported nearly every manufacturer enjoyed a month-over-month increase in orders in October. Class 8 orders over the past 12 months have now totaled 261,500 units.
Preliminary Classes 5-8 net orders totaled 55,700 units, up 65% year-over-year, ACT Research reported. This matched a level not seen since December 2014.
“Seasonally adjusted, orders rose 5.7% from September to 48,900 units,” said Kenny Vieth, president and senior analyst at ACT Research. “For 2017 year to date, orders after seasonal adjustment have been very consistent, ranging from 41,400 units in May to October’s 48,900 unit tally.”
ACT’s total for Class 8 net orders was 36,200 units.
“October’s orders represented a 160% year-over-year jump from a particularly easy, cancellation impacted, year-ago comp,” noted Vieth.
ACT says the strength in Class 8 orders reflects improving freight conditions and rates in 2017, that should lead to a rebound in carrier profitability in 2018.
“October’s preliminary orders clearly put upward pressure on ACT’s expectations for Class 8 demand next year,” said Vieth. “At the same time, we recognize the potential that this year’s NACV show (September) may have pulled-forward the timing of orders that would normally have been placed through the fourth quarter.”