Preliminary NA Class 8 net orders in October were 38,900 units, up 27% from September and a 78% improvement from year-ago October. NA Classes 5-7 demand jumped to a ten-quarter high (March 2018) in October, to 29,300 units. That order volume represents an improvement of 6% from September and an 84% uptick compared to last year. Complete industry data for October, including final order numbers, will be published by ACT Research in mid-November.
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. It differentiates market indicators by Class 5, Classes 6-7 chassis and Class 8 trucks and tractors, detailing activity-related measures such as backlog, build, inventory, new orders, cancellations, net orders, and retail sales. Additionally, Class 5 and Classes 6-7 are segmented by trucks, buses, RVs, and step van configurations. The Class 8 market is segmented into trucks and tractors, with and without sleeper cabs. The report includes a six-month industry build plan, a backlog timing analysis, historical data from 1996 to the present in spreadsheet format, and a ready-to-use graph package. A first-look at preliminary net orders is also published in conjunction with this report.
“Keeping in mind the freight backdrop of consumer spending on goods expanding and those for services contracting, preliminary October NA Classes 5-8 vehicles order data rose to 68,200 units. That volume represented a 17% gain from September and an 80% improvement compared to year-ago October,” said Kenny Vieth, ACT’s President and Senior Analyst. He continued, “October was the largest Classes 5-8 order tally in 26 months, and this month’s orders marked a fifth consecutive positive year-over-year reading, after 18 consecutive months of negative comparisons.”
Regarding the medium-duty market, Vieth commented, “There is a symbiotic relationship between heavy-duty freight rates and medium-duty demand, and clearly, the shift in consumer spending from experiences to goods has been beneficial for the providers of local trucking services, as e-commerce has grown by leaps and bounds during the pandemic.”
Additionally, ACT Research recently announced plans for a new multi-client study focusing on electrification of the commercial vehicle industry to be released in 2021. The scope of the study will include unit sales for the US and Canada, annually from 2020 to 2030, with single-year outlooks for 2035 and 2040. Class 8 truck and Classes 4-7 truck and bus segments will be considered, with additional segmentation encompassing step vans, conventional and low cab forward trucks, RV, school bus, yard spotter, transit bus categories, as well as the Class 8 straight, day cab, and sleeper subcategories. Our research will compare purchase and operational costs for diesel, battery, fuel cell, and hybrid powertrains in a rigorous comparative total cost of ownership (TCO) framework. It will also take into account concerns, such as infrastructure requirements and costs, regulation, and issues including maintenance, range, durability and vehicle and component replacement. For more details about how to participate in this study, including a full prospectus, contact Ian McGriff at email@example.com or click here to let us know of your interest.
ACT Research is recognized as the leading publisher of commercial vehicle truck, trailer, and bus industry data, market analysis and forecasts for the North America and China markets. ACT’s analytical services are used by all major North American truck and trailer manufacturers and their suppliers, as well as banking and investment companies. ACT Research is a contributor to the Blue Chip Economic Indicators and a member of the Wall Street Journal Economic Forecast Panel. ACT Research executives have received peer recognition, including election to the Board of Directors of the National Association for Business Economics, appointment as Consulting Economist to the National Private Truck Council, and the Lawrence R. Klein Award for Blue Chip Economic Indicators’ Most Accurate Economic Forecast over a four-year period. ACT Research senior staff members have earned accolades including Chicago Federal Reserve Automotive Outlook Symposium Best Overall Forecast, Wall Street Journal Top Economic Outlook, and USA Today Top 10 Economic Forecasters. More information can be found at www.actresearch.net.
ACT’s 64th Seminar is scheduled for February 23-25, 2021. Focused on the continuous evolution and advancement of power and energy changes in the transportation and commercial vehicle markets, OUTLOOK Seminar 64 will feature key industry leaders such as Ryan Reed of Wabash National, John Bennett from Meritor, Lance Riegel of Marvin Johnson, and Dominick Beckman from Hino Motors. Look for more details on this event over the coming months and save the date for February’s event. Click here for seminar information.