Demand for commercial vehicles was healthy in November as 58,500 total Class 5-8 orders were booked, up 48% from a year ago, according to ACT Research.
Over the past twelve months, Class 5-8 net orders have totaled 583,200 units, representing the strongest 12-month period of order placement since the twelve months ending December 2006.
“On the heels of October’s second best ever Class 8 order month, November follows with the fifth-best month on the all-time list. The 41,000 NA Class 8 net orders in November (37.7k SA) represent the convergence of a number of trends that continue to drive healthy order activity. These include rising economic activity, pent-up demand, strong new equipment fuel economy gains, and most importantly, rising freight rates, which bolster carrier profitability,” said Kenny Vieth, ACT’s President and Senior Analyst.
Vieth said that November’s preliminary 17,500 Class 5-7 net orders was somewhat of a letdown following on the heels of a strong three-month period of order placement.
“November’s medium-duty orders were down 4% compared to last November and fell 22% below October’s strong intake. Through YTD, Classes 5-7 net orders have been booked at a 218,400 unit annual rate (218.5k SAAR),” he added.