January preliminary North America Class 8 net orders were 27,700 units, up 600 units from January and 16 percent from a year ago.

“Weak freight and carrier profitability fundamentals, and large carriers guiding to lower CAPEX in 2024, would imply pressure in U.S. tractor, the NA Class 8 market’s largest segment,” said Kenny Vieth, ACT Research's President and Senior Analyst. “While we do not yet have the underlying detail for February order volumes, Class 8 demand continuing at high levels again this month suggests that U.S. buyers continue as strong market participants.”

With the fourth largest seasonal factor of the year at 8 percent, seasonal adjustment reduces February’s Class 8 intake to 25,600 units (307k SAAR), up 5 percent from January.

He added, “NA Classes 5-7 net orders were 18,800 units in February, up 7 percent y/y. February’s medium duty net order seasonal factor, at 5 percent, is the fifth strongest of the year, thereby lowering the seasonally adjusted order tally to 17,900 units, down 13 percent m/m, and the lowest seasonally adjusted tally in 13 months.”