ACT Research reports that preliminary North American Class 8 net orders reached 27,000 units in January, a 600-unit increase from December and a notable 45% surge from the previous year.
ACT Research will release the complete industry data for January, including finalized order numbers, in mid-February.
“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower capex in 2024, would imply some pressure in the North American Class 8 market’s largest segment, U.S. tractor,” said Kenny Vieth, ACT’s president and senior analyst. “While we do not yet have the underlying detail for January orders, Class 8 demand continuing at high levels at the start of 2024 suggests that over-the-road US truckers are still buying.”
When adjusted for the third-largest seasonal factor of the year, which stands at 11%, January’s Class 8 intake is adjusted to 24,300 units. This reflects a substantial 17% rise compared to December.
“North American Classes 5-7 net orders were 20,300 units in December, up 16% year-over-year,” Vieth said. “Unlike Class 8, medium duty seasonality is modestly positive in January, boosting the seasonally adjusted order tally to 20,800 units, down 21% month-over-month from a tough best-month-of-2023 December comp.”
Stay tuned for the comprehensive industry insights coming in mid-February.
Source: The Trucker
