Class 5-8 Truck Orders Are On the Upswing
Preliminary orders of Class 8 trucks jumped 27% from September to October and are up nearly 80% versus one year ago, according to ACT Research.
Meanwhile, orders of Class 5 through Class 7 trucks rose to a 10-quarter high to slightly more than 29,000 units last month.
“That order volume represents an improvement of 6% from September and an 84% uptick compared to last year,” say ACT officials.
Kenny Vieth, ACT president and senior analyst, says October represented the largest Class 5 through Class 8 order tally in 26 months, marking a fifth, consecutive year-over-year increase after 18 negative months.
“There is a symbiotic relationship between heavy-duty freight rates and medium-duty demand and clearly, the shift in consumer spending from experiences to goods has been beneficial for the providers of local trucking services, as e-commerce has grown by leaps and bounds during the pandemic,” he adds.