Preliminary Class 8 truck orders see December declines

Preliminary December North American Class 8 truck net orders saw declines, according to recent data respectively issued by freight transportation consultancy FTR and ACT Research, a provider of data and analysis for trucks and other commercial vehicles.  

FTR reported that December preliminary orders, at 26,620 units, trailed November by 26% and were off 6% annually, which the firm observed was within expectations based on seasonal trends. The firm added that total Class 8 orders over the previous 12 months through December came in at 253,000 units, with more recent run rates topping that level. What’s more, it noted that over the previous six months, the annualized run rate was at 302,000 units, with the three-month annualized run rate at 362,000 units. It also stated that OEMs are still able to fill build slots at a healthy rate.

“Despite the slight year-over-year decrease in orders in December, the market is still performing at a high level historically,” said Eric Starks, FTR chairman of the board. “Even as the freight markets have been weak for an extended period, fleets are still ordering equipment. Order levels were above the historical average but continue to follow seasonal trends, reinforcing our expectations for replacement demand in 2024.”

ACT data: ACT reported that that preliminary North American Class 8 December orders, at 26,500 units, were off by 15,000 units compared to November.

“After a strong and upside-surprising November, Class 8 orders surprised in the opposite direction in 2023’s last report,” shared Kenny Vieth, ACT’s President and Senior Analyst. “With the largest seasonal factor of the year, seasonal adjustment pushes December’s intake sharply lower, to 20,900 units. The full-year 2023 Class 8 order tally fell 7.0% y/y to 278,500 units.”