Preliminary North America Class 8 net order data show the industry booked 22,100 units in October, up 74% from September, while Classes 5-7 orders fell 12% m/m, to 16,400 units. Note that these numbers are preliminary. Complete industry data for October, including final order numbers, will be published by ACT Research in mid-November.ACT’s State of the Industry: Classes 5-8 report provides a monthly look at the current production, sales, and general state of the on-road heavy and medium duty commercial vehicle markets in North America. It differentiates market indicators by Class 5, Classes 6-7 chassis and Class 8 trucks and tractors, detailing measures such as backlog, build, inventory, new orders, cancellations, net orders, and retail sales. Additionally, Class 5 and Classes 6-7 are segmented by trucks, buses, RVs, and step van configurations, while Class 8 is segmented by trucks and tractors with and without sleeper cabs. This report includes a six-month industry build plan, backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first-look at preliminary net orders is also published in conjunction with this report.
“The North American commercial vehicle industry kicked-off ‘order season’ in an encouraging fashion, with preliminary order activity rising to a six-month high in October,” said Kenny Vieth, ACT’s President. He continued, “Class 8 orders were the star of October, rising to an 11-month high. While freight market conditions remain weak, the market is arguably benefiting from a substantive change in the ‘must-have’ tractor spec: AMT, ADAS, and superior fuel economy are considerations to offset weakness in the top-line.”
Regarding the medium duty market, Vieth explained, “The fade that started in medium-duty orders during the summer lingered into the start of Q4, and if the preliminary order read stands as printed, October will represent a 40-month order low.”
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
ACT’s 62nd seminar is scheduled for February 11-13, 2020, and will feature trucker, electrification, and economic panels, as well as discussions on near-term demand of North American commercial vehicle markets and the pending impact of electrification on the market in the near future. A commercial vehicle database workshop is also being planned in conjunction with this semi-annual event.
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