Total net orders for Class 8 in September were 24,842 units, up 31% year-over-year, and Class 5-7, at 19,486, rose to their third strongest level since early 2008, according to the latest State of the Industry report released by ACT Research Co. (ACT).
“The past couple of weeks have seen volatility in equity markets, but key economic and freight data points relating to commercial vehicle demand continue to trend positive,” said Kenny Vieth, ACT’s President and Senior Analyst.
Speaking to the strength in Class 8 order activity, Vieth noted, “Through year-to-date September, net orders have been booked at a seasonally adjusted annual rate of 349,000 units, a rate above the 328k orders booked in the past 12 months.”
Concerning Class 5-7 net orders, Vieth said that compared to a year ago, net orders were up 15%.
“Within this segment of the market, trucks fell 4% y/y, but buses rose 156% and RVs rose 31% year over year,” he said. “With housing activity generally trending sideways in recent months, so too have medium-duty truck orders and backlogs.”