Preliminary January North American Class 8 truck net orders see annual gains

Preliminary North American Class 8 net truck orders, for the month of January, saw annual gains, according to data recently issued by freight transportation consultancy FTR and ACT Research, a provider of data and analysis for trucks and other commercial vehicles.  

FTR reported that preliminary January net orders, at 26,400 units, snapped a three-month stretch of sequential declines, with a 2% gain over December, while posting a 35% annual increase. The firm said that total Class 8 orders over the last three months through January, are running at an annualized rate of 327,000 units, with orders over the last 12 months through January equaling 259,000 units.

“Build slots continue to be filled at a healthy rate,” said Eric Starks, FTR chairman of the board, in a statement. “With January orders coming in at a rate that was comparable to the previous month, the market is still performing at a high level historically. It was a mixed market for OEMs this month with some seeing increases and others seeing decreases in orders. Fleets continue to be willing to order new equipment despite uncertainty in the freight market. Order levels were above the historical average and above seasonal trends, although we still expect 2024 activity to reflect replacement demand.”

ACT data: ACT reported that January preliminary North American Class 8 orders, at 27,000 units, rose by 600 units compared to December and climbed up 45% annually.

“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower capex in 2024, would imply some pressure in the NA Class 8 market’s largest segment, US tractor,” said Kenny Vieth, ACT President and Senior Analyst, in a statement. “While we do not yet have the underlying detail for January orders, Class 8 demand continuing at high levels at the start of 2024 suggests that over-the-road US truckers are still buying.”