Net orders for North American Class 8 trucks totaled 22,800 units in March 2017, relatively unchanged from the previous month and 41 percent from the previous year, according to freight transportation analyst FTR.
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Orders for North American Class 8 trucks grew 41 percent year-over-year to 22,800 units in March 2017, according to freight transportation analyst FTR.
Net orders for North American Class 8 trucks totaled 22,800 units in March 2017, according to the latest figures from freight transportation analyst FTR.
The March order activity was relatively unchanged (down 0.4 percent) compared with the previous month and up 41 percent from the same 2016 period, the firm said.
Class 8 truck orders totaled 164,000 units in 2016, and according to FTR, orders for the past six months now annualize to 243,000 units.
Steady order growth that began in November has now pushed backlogs to close to 2016 levels, and production rates are expected to increase significantly beginning in March, according to FTR.
“March orders are reflective of a more normal Class 8 market in a moderate, freight-driven upcycle,” FTR Vice President of Commercial Vehicles Don Ake said in a statement. “Replacement cycles are now getting back into a more traditional pattern. This reflects growing fleet confidence as they see freight growth returning after a difficult 2016. OEMs are ramping up production in response. There is renewed optimism in the industry.
“This is a reserved, contained market upswing,” he added. “It means it is easier for the OEMs to increase builds gradually and prices don’t fluctuate as much. It provides some market stability. It is good for the industry, and a good sign for the economy in the second half of the year.”