Net orders for North American Class 8 trucks totaled 19,300 units in November 2016, up 41 percent from the previous month and in line with analyst expectations, according to freight transportation analyst FTR.
Net orders for North American Class 8 trucks totaled 19,300 units in November 2016, according to the latest preliminary figures from freight transportation analyst FTR.
The “respectable” November order activity was up 41 percent compared with the previous month and in line with FTR analyst expectations “as the market is back to tracking normal cycles,” the firm said.
Class 8 truck orders have now totaled 191,000 units in the last twelve months, and according to FTR, backlogs are expected to increase for the first time in ten months.
“Class 8 orders came in right as expected in November,” FTR Vice President of Commercial Vehicles Don Ake said in a statement. “It is good news that the market has stabilized and is following seasonal trends. Backlogs should increase in November and December as production dips, however this order level should allow production to bounce back some in Q1.
“The downturn in the Class 8 market was in response to weak manufacturing and lackluster freight growth in 2016,” he added. “It appears business inventories have finally dropped and manufacturing is regaining strength. This trend is important for the Class 8 market to regain footing early in 2017.”
FTR: Class 8 orders jump 41% in November
