Truck orders stabilizing at healthy levels
February Class 8 orders were 22,800 units, according to preliminary data from FTR, a 13% increase from January and up 10% year over year.
FTR says the stable activity indicates orders may level out at about 20,000 units per month.
“Orders likely are below build rates for the month, and FTR would anticipate backlogs to slip slightly. However, backlogs remain at high levels and production slots are mainly filled through Q3 of this year. As such, the February performance is a good sign for the industry as fleets continue to order equipment,” said Eric Starks, chairman of FTR.
“Over the past year, total net orders reached 303,000 units. In any market, this is a strong number. However, given the uncertainty in the economy, this is an especially welcome sign that demand has not collapsed and that fleets still have access to capital.”
ACT Research reported preliminary orders of 23,600 units, with 17,500 Classes 5-7 vehicles ordered. Eric Crawford, ACT’s vice-president and senior analyst, said the orders reflected “modest upside” to its projections.
Medium-duty orders “took a modest step down,” with orders sliding 2% from January and down 11% year over year, ACT reported.
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