ACT Research: Healthy December Class 8 Intake Caps Off a Robust Final Four Months
Preliminary NA Class 8 net orders in December were 30,300 units, while NA Classes 5–7 net orders were 17,700 units. Complete industry data for December, including final order numbers, will be published by ACT Research in mid-January.
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.
Regarding Class 8 orders, Eric Crawford, ACT’s Vice President and Senior Analyst, shared, “At first glance, December’s SA intake was 4% below the ytd monthly average heading into the month. On the surface, and when combined with a 26% m/m decline on an SA basis, that might suggest some weakening in demand.” He added, “But when factoring in the year-end seasonal uptick in orders began a month ahead of schedule this year (September), which skewed the ytd SA average upward, and that September orders represented the highest monthly total on record, we’re inclined to view December’s order intake as a solid end to a robust final four months of the year.”
About medium-duty (MD) orders, he added, “MD demand was decent. December Classes 5–7 orders declined 17% m/m to 17,700 units.”
He also noted “Large cancellations, reflecting a multi-quarter correction in cancellation reporting, impacted the volumes at one of the large OEM groups, which had the effect of pulling down on December’s MD and HD activity. While ACT does not have the data specifics at this juncture, the cancellations will be reported when December data are released mid-month.”
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.
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