October commercial net orders come in strong
North America heavy GVW Class 8 commercial vehicle preliminary net orders for October, 2011, surprised on the upside, improving both month-over-month and year-over-year. The news comes from a report by ACT Research Co.
The final numbers will be released mid-November. They are expected to approach 27,700 units for heavy duty Class 8 trucks, and 13,300 for medium Classes 5-7 vehicles. The preliminary net order numbers are typically accurate to within 5% of actual.
“At this level of order activity, there is probably some incremental fleet growth taking place,” said Steve Tam, ACT vice president-commercial vehicle sector. “The underlying fundamentals in the heavy truck market are all healthy. Fleet equipment is old, trucker profitability is good, used truck values are strong, and financing is generally available. The strength in orders supports ACT’s forecast for next year.”
For more information visit ACT’s website at http://www.actresearch.net.