January truck orders ‘way beyond expectations’
Class 8 truck net orders were above 30,000 for the second consecutive month in January – the first time back to back months have exceeded this mark since 2006.
“Orders were way beyond expectations,” Don Ake, FTR Vice President of Commercial Vehicles, says. “This is another great order month to kick-start 2014.”
According to FTR data, combined order activity for December-January should allow OEM’s to hit Q1 targets with possible increases in production in Q2. January orders improved 56 percent year-over-year with an annualized rate of 347,500 units over the past three months.
“Order strength was broad-based among manufactures and countries,” Ake says. “This is a very positive signal for the industry. The strong orders are consistent with the tightening of capacity in the marketplace. Fleets and dealers continue to display confidence in the freight market.”
To-date, 2014 has been full of good news.
In all, it’s not been the worst time to be in heavy truck sales, as Class 8 net orders closed 2013 up 17 percent from 2012 while Classes 5-7 orders rose 10 percent.