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ACT Research: Preliminary NA Class 8 Orders Jump 146% in January Y/Y

February 03, 2021, 07:18 AM
Filed Under: Trucking

Preliminary NA Class 8 net orders in January were 42,200 units, down 17 percent from December, but a 146 percent improvement from year-ago January. NA Classes 5-7 demand, with orders at 25,300 units, slid 28 percent sequentially but were still up 26 percent compared to last January. Complete industry data for January, including final order numbers, will be published by ACT Research in mid-February.

“At this introductory pass at 2021 commercial vehicle data, the consumer economy lacks the stimulus-fueled robustness that characterized spending into early Q4,” said Kenny Vieth, ACT’s President and Senior Analyst. “Even as consumers look less hearty – at least in the short-term – manufacturing sector indicators show that the industrial economy is shaking off the dust of two years of tepid activity. The slower economic expansion of the past two months is reflected in spot freight rates, which have trended lower since November. Some, but not all, of the pullback relates to seasonality, which was also reflected in January’s preliminary commercial vehicle net order data.”

Regarding the medium-duty market, Vieth commented, “Despite January’s preliminary net order moderation, the pandemic-driven shift in consumer spending from experiences to goods remains a benefit for the providers of local trucking services, and the symbiotic relationship between heavy-duty freight rates and medium-duty demand continues to impact this market segment.”

ACT’s State of the Industry: Classes 5-8 Vehicles report provides a monthly look at the current production, sales, and general state of the on-road heavy and medium duty commercial vehicle markets in North America.

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