FTR: October truck orders increase 22%
October Class 8 truck total net orders for all major North American manufacturers reached 18,386 units, a 22 percent increase over the previous month, based on preliminary data from FTR Associates.
October is the third consecutive month showing month over month increases. Net order activity for the six-month period through October projects to 171,662 units annually. The figure includes U.S., Canada, Mexico and exports.
“Increased order activity in October was in line with expectations and is consistent with FTR’s current forecast of only a modest increase in demand for equipment in 2011,” said President Eric Starks. “Typically October is a seasonally strong month for orders with November the strongest order month of the year. Therefore, if November orders do not surpass October by several thousand units that would suggest that many fleets are holding back on buying equipment.”
Starks added, “Based on comments we’ve heard from fleets about disappointing October freight demand, there is some downside exposure to November orders with fleets not yet comfortable enough to invest in new power units. Our view is that November orders will hover around 20,000 units before falling off in December. Anything exceeding 25,000 units in November would certainly be a win for the industry.”