Preliminary Class 5-8 data for February indicate industry net orders rose to a 14-month high at 45,900 units, a 12% improvement compared to February 2016, according to ACT. Final order numbers will be published in mid-March.
North American Class 8 net orders hit a 14-month high at 23,200 units in February, a second consecutive month of orders rising above both trend and expectations.
“Orders rose 28% versus year-ago February. That gain was only the third positive year-over-year comparison in the past two years,” said Kenny Vieth, ACT’s President and Senior Analyst. “Weak orders in 2016 and an improving economy should make positive year to year comparisons a monthly occurrence as we move through 2017.”
Preliminary North American Class 5-7 orders in February were nearly identical to January at 22,700 units. Actual orders in January were 22,744 units.
“While actual orders were in-line, seasonal adjustment provides a drag in February versus a boost in January,” said Vieth. “When seasonally adjusted, the net order volume drops to 21,450 units, down 11% compared to the seasonally adjusted January volume.”