Preliminary North American Class 8 Net Orders for January at 32,500 Units
FTR reports January 2026 North American (N.A.) Class 8 truck/tractor preliminary net orders decreased 24% m/m to 32,500 units but were up a solid 27% y/y. January marked the second straight month of y/y order growth – the first time that has happened since April and May of 2024 – and orders were well above the 10-year January average of 26,300 units. While the on-highway market made up the bulk of the m/m decline, both on-highway and vocational markets contributed significantly to the y/y increase in orders.
January N.A. Class 8 net orders extended December’s 20%+ y/y increase, but the improvement likely remains driven by timing rather than being cyclical. Even with January’s gain, cumulative orders for the 2026 order season from September through January are down 13% y/y, underscoring the notion that recent strength reflects the execution of deferred replacement demand rather than a true demand inflection. Clearer tariff-adjusted pricing and improved regulatory visibility (Classes 3-8 tariffs and EPA 2027 NOx) likely encouraged fleets to move forward with purchases that had been delayed through much of the fall, shifting order activity into late 2025 and early 2026 rather than creating incremental demand.
