In the world of Class 8 trucks, November brought with it a surge of energy as preliminary net orders reached the noteworthy amount of 36,750 units. This figure, a 32% leap from October’s stats, and a 2% rise from the same time last year, sheds a positive light on the vitality of the truck driving industry.
While seasoned expectations and a noticeable year-over-year dip in October played their part, the numbers remained in line with projections. A closer look at the preceding 12 months reveals a robust total of 255,500 Class 8 orders, painting a picture of sustained momentum in the industry.
FTR Chairman Eric Starks, with optimism, shared that build slots continued to be claimed at an upward, motivating pace. The slight uptick in November’s year-over-year order tally underscored a market that stands firm, echoing historical highs.
“We also saw a more cohesive market for OEMs versus October, with the majority seeing increases in orders,” he said. “Despite prolonged weakness in the overall freight market, fleets continue to be willing to order new equipment. Order levels were above the historical average but continue to follow seasonal trends, stabilizing our expectations for replacement demand in 2024.”
ACT Research President and Senior Analyst Kenny Vieth pointed out that November’s Class 8 net orders marked the most significant monthly intake since October 2022.
“Since the filling of 2024’s order boards began in earnest in September, Class 8 orders have been booked at a 413k (seasonally adjusted annual rate),” he said. “Even though backlogs, in seasonal fashion, are rising, they continue to point to a different market vibe heading into 2024: Still good, for sure, but solid, rather than stellar.”
others.
Source: Commercial Carrier Journal
