Preliminary data indicates February was great month for new truck orders
COLUMBUS & BLOOMINGTON, Ind. — February marked the fifth best month for Class 8 orders since the second quarter of record-setting 2006, according to preliminary data from industry forecasters.
ACT Research reported preliminary Classes 5-7 orders totaled 19,600 units and Class 8 net orders came in at 29,200 units.
“February’s Class 8 orders were the fifth best since Q2 2006,” said Kenny Vieth, ACT’s president and senior analyst. “Despite falling 16% from January, February’s net orders were up 30% compared to a year ago. Since October, Class 8 orders have been booked at a 320,000 SAAR. Going even further afield, since the beginning of Q3 2013, Class 8 net orders have been booked at a 299,000 SAAR.”
Medium-duty orders were up 14% from January and 22% compared to last February.
FTR also released preliminary orders, indicating it expects 28,876 Class 8 net orders to be recorded, marking the best February – and combined with December and January, the best three-month period – since 2006.
“Orders were strong for the third consecutive month and in line with expectations with the market now officially in a growth cycle,” said Don Ake, FTR’s vice-president of commercial vehicles. “The confidence in the industry is picking up steam and we expect 2014 to be a healthy year for Class 8 trucks. The current order activity should begin to put pressure on OEM build rates for Q2 to be more in line with the FTR forecast.”
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