COLUMBUS, Ind. — Class 8 net orders spiked 24% in October while medium-duty orders posted a 19% month-over-month gain.
ACT Research noted in its State of the Industry: Classes 5-8 Vehicles report that Class 8 orders reached their second highest monthly total since April 2008 in October. Only a brief monthly surge in October 2009, driven by a pre-buy in advance of the roll-out of costly 2010 engines, exceeded this October’s figures.
“While September gave a hint to increasing demand for Class 8 equipment, October orders provided the strongest sign yet that the transportation sector recognizes the need to replace aging equipment,” said Kenny Vieth, president and senior analyst with ACT. “With production of equipment rising only slightly in October, the order backlog is now 29% above it trough earlier this year, a sign that the commercial vehicle manufacturing sector is getting healthier.”
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