Past 4 months have been three of the top five truck order months this cycle
January NA Classes 5-7 net orders are expected at 17,000 units, according to ACT Research and Class 8 net orders are expected at 34,700 units when actual data are released mid-month.
“The past four months have seen three of the top five order months this cycle for Classes 5-8,” says Kenny Vieth, President & Sr. Analyst at ACT Research.
In January, Class 8 orders rose 9 percent from December’s strong showing and 51 percent from year-ago January.
“While the order trend has accelerated, it should be noted that this is the time of year in which Class 8 orders tend to be strong: Typically, orders accelerate in Q4 and remain elevated into Q2 before falling sharply in Q3,” Vieth says.
If industry build transpires as expected, Vieth adds Class 8 backlogs are expected to have posted a nice gain in January. After a pause in December, medium-duty orders returned to trend in January. Net orders were up 13% from December and 31 percent compared to last January.
Don Ake, FTR Vice President of Commercial Vehicles, said earlier this month that “orders were way beyond expectations. This is another great order month to kick-start 2014.”