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Tuesday, September 27, 2022

October Class 8 Orders Show Significant Continuing Strength

 

FTR reports preliminary North American Class 8 orders for October at 43,000 units, surpassing 40,000 units for a record eighth month in a row. October 2018 orders were the 10th best ever; 2% above a strong September and 19% better than a year ago. Fleets continue to order a record number of trucks to secure remaining build slots in 2019. Freight volumes are now expected to be healthy well into the second half of 2019, keeping capacity utilization at extremely tight levels for an extended period. North American Class 8 orders for the past twelve months have now totalled 504,000 units.

Don Ake, FTR vice president of commercial vehicles, commented, “October is traditionally the start of the next year’s order season, so to see strong numbers now is not surprising. But ordering for 2019 began in July with back-to-back record months. For orders to still be this hefty in October after that is remarkable. Fleets want to make sure they have access to new trucks, as the growing economy continues to stretch capacity. They continue to place a record number of orders to ensure they will have the trucks needed if freight levels keep growing.”

“Months exceeding 40,000 Class 8 trucks had been a rare occurrence, only happening five times before 2018. However, October is the eighth month of forty-plus orders this year. Activity may start to fall off soon, as available build slots in 2019 diminish,” added Ake.