Class 8 truck orders surged in October
Class 8 orders for all major North American original equipment commercial truck manufacturers totaled 21,792 units last month, a 104% increase over September's numbers.
"For the last three months, Class 8 orders were received at an annualized rate of 172,300, significantly better than early 2009," say representatives from FTR Associates, a trucking industry forecaster.
"All indications are that the October increase is due to the filling up of remaining 2009 production slots for trucks with the older 2007 engine technology and to avoid the new 2010 engines, which due to tighter emission standards will be more expensive and will employ new technology.
"Significantly, the order activity was broad based among the OEMs from fleets of various sizes and did not appear to be dealer restocking.
"We are encouraged that fleets have developed enough confidence in the economic recovery that they have been willing to make such commitments at this time."