Net orders for Class 8 tractors continued to move sideways for a third consecutive month in October at 13,907 units, according to ACT Research Co. Inc. Seasonally adjusted, October’s orders were weak at 12,060 units.
“The driving factor behind the weak net orders number was an unusually high level of cancellations booked in the month (8,610),” said Jim Meil, ACT Research principal and industry analyst.
Meil continued, “The cancellations offset a total orders number of 22,517 that reflected, to some degree, the traditional strength of this kickoff month.”
With regard to Classes 5, 6 and 7 trucks, Meil said, “Medium-duty statistics continue to reflect the underlying health of the consumer and closely related segments of the economy: retail sales — especially online and parcel delivery — services and construction.”
October’s Classes 5-7 net orders were 20,922 (18,250 seasonally adjusted).
“While this was a drop from September seasonally adjusted results, it does sustain a year-to-date increase compared to the same 10 months in 2015,” Meil said.
ACT is the leading publisher of new and used commercial vehicle industry data, market analysis and forecasting services for the North American market, as well as the U.S. tractor-trailer market and the China commercial vehicle market.