Class 8 net orders rose to a three-month high of 14,200 in August, aided in part by cancellations, which fell to a 33-month low, according to the latest State of the Industry report, recently released by ACT Research Co. (ACT).
Seasonally adjusted, Class 8 orders were the best since March at 16,000 units. Medium-duty net orders were up m/m, totaling 17,100 units, in-line with the order trend in place since April.
“While down in August against traditional comparisons, Mexico remains the bright spot in the market as freight generation continues to benefit from peso weakness,” said Kenny Vieth, President and Senior Analyst. “A proposed emissions mandate at the start of 2018 is likely adding to market strength as truckers think strategically.”
Speaking on Classes 5–7, Vieth continued, “With the consumer economy hitting on most cylinders, and without any irrational demand activity cycle-to-date (maybe a few months of peakiness early in the year as new products were ramped-up), there is good consistency in MD demand and steady-as-she-goes expectations remain in place.”