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ACT Research: Preliminary Class 8 Net Orders Soar 424% in March Y/Y

April 05, 2021, 07:20 AM
Filed Under: Trucking

Preliminary NA Class 8 net orders in March were 40,000 units, down 10 percent from February, but a whopping 424 percent higher than March of last year’s COVID-stricken intake. NA Classes 5-7 demand, with orders at 31,400 units, were up 19 percent from February. Demand was more than double (103 percent) its year-ago level. Complete industry data for March, including final order numbers, will be published by ACT Research in mid-April.

“Fanning the flames of an already robust economy, $1.9 trillion in additional stimulus has started filtering its way into consumers’ pocketbooks,” said Steve Tam, ACT’s Vice President. “In addition, the prospect of a $2 trillion infrastructure bill has consumers and businesses setting their sights higher for both the near- and mid-terms. And, included in that outlook appears to be a need for an increasing number of commercial vehicles.”

Regarding the heavy-duty market, Tam commented, “Despite retrenching from February, Class 8 demand remained strong in March, well above replacement and even anticipated economic growth, let alone the industry’s ability to keep pace in the current supply chain constrained environment.” He noted, “In similar bullish fashion, consumer demand, fueled at least in part by the optimism associated with the nearly $2 trillion in recently approved stimulus, has caused buyers of medium-duty commercial vehicles to remain at the demand trough for yet another month. This is particularly interesting, given the medium duty’s second-fiddle position in the supply chain pecking order.”

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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