March 20, 2014
“Outstanding” isn’t something truck dealers have heard in several years with regard to truck sales, but that’s how Kenny Vieth, president and senior analyst at ACT Research Co., described February’s results.
“Heavy-duty orders were strong, but retail sales were outstanding,” he says.
Class 8 net orders in February were up 30 percent year-over-year while Classes 5-7 net orders were up 18 percent, according to ACT’s State of the Industry report.
“Whether it was tight capacity driving truckers to market early, or the inability of the OEMs to make dealer deliveries in January, February’s Class 8 retail sales volume, when seasonally adjusted, was a two-year high of 24,600 units.” Vieth says, adding that medium-duty demand also continues to be strong and that in February “Classes 5-7 net orders rose to their third highest volume this cycle.”
According to FTR, the last six months of Class 8 order activity annualize to roughly 320,000 units.
“The confidence in the industry is picking up steam and we expect 2014 to be a healthy year for Class 8 trucks,” Don Ake, FTR Vice President of Commercial Vehicles, says.