October truck orders ‘strong’; market ‘not great’
As expected from its preliminary report, ACT Research says Classes 5-8 orders were strong in October.
This updated status of the North America commercial vehicle market was included in the State of the Industry report, recently released by ACT Research Co. The report covers Classes 5 through 8 vehicles for the North American market.
“October brought a sharp move upward from the prevailing order trend for Class 8. Given that market conditions are good but not great, it is premature to say that trend will continue through November and December,” says Kenny Vieth, president and senior analyst at ACT Research Co., LLC. “For medium duty, October is typically the peak month for orders and this month’s results did not disappoint. Class 5 saw its best order month in 5 years, and Classes 6-7 orders were the second best this year.”
North American classes 5-7 orders were expected to hit 18,600 units, and Class 8 orders were expected at 26,300 units.
Industrywide figures reflect at least two major truck maker’s reports released earlier this month.