February Class 8 orders best since 2006
According to Americas Commercial Trucking (ACT) Research, February 2014 North American Classes 5-7 net orders are expected to be 19,600 units (±5%) and Class 8 net orders are expected at 29,200 units (±5%), when actual data are released mid-month.
“February’s Class 8 orders were the fifth best since Q2 2006,” said Kenny Vieth, ACT’s president and senior analyst.
“Despite falling 16% from January, February’s net orders were up 30% compared to a year-ago. Since October, Class 8 orders have been booked at a 320k SAAR. Going even further afield, since the beginning of Q3’13, Class 8 net orders have been booked at a 299k SAAR.”
Vieth added that following two months of below trend order placements, Classes 5-7 net orders rose to their highest level cycle-to-date at 19,600 units. That volume represents an improvement of 14% from January and 22% compared to last February.
“MD orders over the past year can be characterized as ‘slow and steady wins the race.’ Since October, orders have been booked at a 211k SAAR, while going back to the beginning of Q3 ’13 produces a net order SAAR of 210k units. Over the 12 months ending February, 206k net orders were booked.”
For more information on ACT visit http://www.actresearch.net.