Class 8 orders remain strong in February: FTR

BLOOMINGTON, IN – FTR has revealed that preliminary Class 8 net orders exceeded expectations for the second time in a row, with a solid year over year comparison at 22,900 units for February.

Orders were up 5% month over month, and up 28% year over year. Backlogs have now been pushed to over 100,000 units for the first time since June 2016 because of the steady order trend. The solid order activity trend that continued in February began in November 2016, with market momentum gaining speed at a measured pace. Current order volumes should allow production to hit or surpass second quarter forecasts. Class 8 orders over the past three months now annualize to 263,000.

“February was another very encouraging month for Class 8 truck orders. Orders have increased for four straight months, indicating the market is making a solid recovery after the second-half slump in 2016,” said Don Ake, vice president of commercial vehicles at FTR. “This order cycle is much flatter and longer than usual, but this is a healthy order total for a February.  March orders may not decline that much.  This is what a turning point looks like.”

February’s final data will be made available by FTR later in the month as part of the North American Commercial Truck & Trailer Outlook service. 

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