FTR reports preliminary North American Class 8 net orders for August up M/M at 15,400 units

Class 8 orders for August came in at 15,400 units, up 16 % versus July. Orders were down 26% year-over-year, but that comparison is a bit deceptive as last year’s numbers were exceptionally strong. July 2022 was the beginning of the run-up in order activity that continued through November and beyond. The August level of order activity continues to be below replacement levels. Total Class 8 orders for the previous 12 months have equaled 294,000 units.

Eric Starks, chairman of the board, commented, “As build slots start to open for 2024 production, fleets are starting to place orders on the books. However, much of the ordering for 2024 has yet to be seen and typically will not show up until September or October. Despite rising order activity, the year-over-year comparisons will look horrible through November due to record order activity in the second half of 2022. The actual unit order levels will be more significant in the near term than the year-over-year change in analyzing the strength of the market. Even though order activity is still below replacement demand, a key takeaway from the August data is that fleets are not shying away from ordering new equipment, which is a good sign for the second half of the year.”

Preliminary orders may be estimated and are subject to revision when FTR releases final data mid-month as part of its North American Commercial Truck & Trailer Outlook service.