Class 8 Orders Fall Below 14,000 in October
Orders for Class 8 trucks in October reached 13,900, according to ACT Research Co.’s initial findings, which will be revised if necessary later in the month..
The volume reflects a familiar a story, ACT said — lingering overcapacity from too many Class 8 tractors being purchased relative to freight availability last year and into early 2016.
One analyst called the orders weak.
“Considering that October is a month when big fleets start placing orders, the number is very disappointing. To put that in perspective, the 13,900 order number compares to expectations that were in the 18,000 range,” Credit Suisse analyst Jamie Cook wrote in a note to investors.
October's total was down from 25,925 in the same month last year and flat with September's 13,880 total.
The research company FTR pegged preliminary Class 8 net orders for October at 13,800 units.
The number for the month was negatively impacted by a significant cleanup of long-term, excess, orders by one OEM, it said.
With this backlog adjustment factored out, FTR said net orders would have been closer to approximately 21,300 units, much above industry expectations and would have been the best monthly order activity since December 2015.
