Preliminary NA Class 8 net orders in October were 42,500 units, while NA Classes 5-7 net orders were 23,400 units. Complete industry data for October, including final order numbers, will be published by ACT Research in mid-November.

“The strength in orders reflects 1) OEMs having opened their orderboards for 2023 more broadly, and 2) ongoing pent-up demand, with tailwinds from strong carrier profitability and elevated fleet age proving resilient,” said Eric Crawford, ACT’s Vice President and Senior Analyst. “We continue to expect a freight recession, and an eventual economic recession (mild to medium in magnitude), but OEMs at this point have clear visibility to a strong first half 2023 (barring any unforeseen cataclysmic events).”

About medium-duty orders, he added, “MD demand was solid, albeit against somewhat challenging comps. Over the past 12 months, the MD market has seen 234,200 orders booked.”