Class 8 truck orders reach 31,900 units in October
07 November 2023
North American figures for net orders remain above nominal, seasonal levels
October’s net orders for North American Class 8 net orders hit 31,900 units, which continues this year’s trajectory of remaining above-trend levels nominally and seasonally, according to ACT Research.
Kenny Vieth, ACT president and senior analyst, said adjusting for the season drops October’s figure to 25,800 units, which is still the third-best order month in the past calendar year.
“A strong seasonal factor presses down on ‘real’ orders this month,” Vieth said.
The Class 8 backlog should rise by around 3400 units when ACT Research releases final order numbers with complete industry data for October in mid-November, and Vieth said if those numbers hold, Class 8 backlogs will have ended October at around 165,000 units.
“Even though backlogs, in seasonal fashion, are rising, they continue to point to a different market vibe heading into 2024,” Vieth said. “As we head into 2024, the absence of the large backlog cushion the industry has enjoyed the past two years underscores the importance of seasonal order activity in the coming months.”
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