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Dive Brief:
- Preliminary Class 8 truck orders for North America surged in September as order books reopened, FTR reported this month.
- Orders increased to 31,200 units, more than double August’s total but down 44% YoY, according to FTR data.
- “Despite the weakness in the overall freight market, fleets continue to be willing to order new equipment,” FTR Chairman of the Board Eric Starks said in a monthly report.
Dive Insight:
Despite carriers reeling in a downturn with sluggish load-to-truck ratios, weak spot rates and reduced profits, ACT Research noted, the industry as a whole seems poised for forward momentum.
“While it is too early to infer much from September [truck] orders, data from the OEMs confirm the ‘season’ started on the right foot,” Kenny Vieth, ACT’s president and senior analyst, said in an orders report.
September 2022 was exceptionally strong for truck orders, FTR noted, but fleet orders also tend to increase after September, too, as order books open for the season.
“We did not anticipate matching the level of orders that we saw this time last year,” Starks said, “but increasing orders confirm our expectations of replacement demand in 2024.”
