Class 8 truck orders rise sharply in October
Net orders for heavy-duty Class 8 commercial vehicles increased to 21,500 units in October, the highest level since January 2008, according to ACT Research Co., which analyzes the commercial vehicle market.
In the latest release of the State of the Industry: Classes 5-8 Vehicles, ACT said Class 8 new orders were up across all three North American regions as well as exports. Medium-duty Class 5-7 net orders were also at their highest level of the year, up 50 percent from the prior year.
“The sharp spike in orders and the near-term placement of a majority of the orders is a clear indication of pre-buy activity in the United States and Canada,” said Kenny Vieth, partner and senior analyst with ACT. “Mexico and non-NAFTA export markets also had stronger orders, likely indicating increased confidence in the economic outlook.”