ACT Research: Class 8 Truck Orders at 23,600 Units in February, up 13% Y/Y
Preliminary NA Class 8 net orders in February were 23,600 units, up 13% y/y (+27% m/m), while NA Classes 5–7 net orders were 17,500 units. Complete industry data for February, including final order numbers, will be published by ACT Research in mid-March.
ACT’s State of the Industry: Classes 5–8 Vehicles report provides a monthly look at the current production, sales, and general state of the on-road heavy and medium duty commercial vehicle markets in North America. It differentiates market indicators by Class 5, Classes 6–7 chassis and Class 8 trucks and tractors, detailing activity-related measures such as backlog, build, inventory, new orders, cancellations, net orders, and retail sales. Additionally, Class 5 and Classes 6–7 are segmented by trucks, buses, RVs, and step van configurations. The Class 8 market is segmented into trucks and tractors, with and without sleeper cabs. The report includes a six-month industry build plan, a backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first-look at preliminary net orders is also published in conjunction with this report.
“We do not forecast orders, but given how robust Class 8 orders were into year end, coupled with cautious readings from the ACT Class 8 Dashboard, we noted at Seminar 68 that we expect SA orders in a range of 15–20k in the near term,” shared Eric Crawford, ACT’s Vice President and Senior Analyst. “Thus, February’s SA 22,400 represents a modest upside to our expectation. Combined with January, SA orders have averaged 19,700 units ytd.”
He added, “MD demand took a modest step down. February Classes 5–7 orders declined 11% y/y (-2% m/m) to 17,500 units. The seasonally adjusted February intake, at 16,400 units, declined 12% y/y (-9% m/m).”
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
ACT’s next seminar, Market Vitals: The Current & Future Health of the Industry, is scheduled for August 22–24, 2023. Look for more details over the coming months and save the date for August’s event. When details are available, they may be found HERE.
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More information about ACT’s Classes 5–8 reports.
Information about other ACT Research publications.
February’s State of the Industry: Classes 5–8 Vehicles press release.