Class 8 net orders continued to move sideways for the third consecutive month in October at 13,907 units. Seasonally adjusted, October's orders were weak at 12,060 units.
“The driving factor behind the weak net orders number was an unusually high level of cancelations booked in the month (8,610),” said Jim Meil, ACT Research Principal and Industry Analyst. “The cancelations offset a total orders number of 22,517 that reflected, to some degree, the traditional strength of this kickoff month.”
Speaking of Classes 5, 6, and 7, Meil noted, “Medium-duty statistics continue to reflect the underlying health of the consumer and closely related segments of the economy: retail sales (especially online and parcel delivery), services and construction.”
October Classes 5-7 net orders were 20,922 (18,250 SA). Meil continued, “While this was a drop from September SA results, it does sustain a year-to-date increase compared to the like 10 months in 2015.”