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ACT Research: Preliminary NA Classes 5-8 Vehicle Orders Positive for Fourth Consecutive Month

Posted by Jennifer McNealy on Oct 2, 2020 9:00:00 PM

Preliminary NA Class 8 net orders in September were 31,100 units, up 60% from August and a whopping 145% from an easy year-ago comparison. The NA Classes 5-7 market saw orders at a healthy 26,900 units, up 37% month-over-month and 48% versus their year-ago September volume. Complete industry data for September, including final order numbers, will be published by ACT Research in mid-October.

ACT’s State of the Industry: Classes 5-8 Vehicles 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 activity-related 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. The Class 8 market is segmented into trucks and tractors, with and without sleeper cabs. The report includes a six-month industry build plan, a 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.

“Preliminary data show that September orders for medium- and heavy-duty vehicles posted positive readings for a fourth consecutive month, after 19 consecutive months of negative year-over-year comparisons,” said Kenny Vieth, ACT’s President and Senior Analyst. He continued, “In aggregate, Classes 5-8 orders rose 49% from August and improved 88% compared to year-ago September.”

Used 10.5.20

Relating these facts to the North American heavy-duty market, Vieth said, “As orders rebounded to relatively healthy levels early in Q3, most of those orders were targeted at filling open 2020 build slots. With most of that work done by the end of August, we suspect the lion’s share of September’s orders were booked into 2021.”

Regarding the medium-duty market, Vieth commented, “There is a symbiotic relationship between heavy-duty freight rates and medium-duty demand, and clearly, the shift in consumer spending from experiences [services] to goods has been good for the providers of local trucking services.”

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.

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Access September's State of the Industry: Classes 5-8 Vehicles Preliminary Press Release.

Get September's State of the Industry: Classes 5-8 Vehicles Press Release.

 

Topics: freight rate, logistics, Press Releases, supply chain, medium duty truck, commercial vehicle sales data, truck market, truck freight, north american trucking, class 8 truck, american truck and trailer, commercial truck and trailer, transportation industry news, trucking, heavy duty truck, class8

About ACT Research

We're the leading publisher of industry data, market analysis, and economic forecasting services for the commercial vehicle and transportation industries.

2019 Lawrence R. Klein Award Winner: Most Accurate Economic Forecast 2015-2019

  Partner to LMC Automotive and the Chinese State Information Center

  Contributor to the Blue Chip Financial and Wall Street Journal Consensus Economic Forecast


 

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